Reserve Bank of India Says 98.47% of ₹2,000 Notes Returned to Banking System:
The Reserve Bank of India have announced that 98.47% of ₹2,000 Indian currency notes have been returned to the central banking system. ₹2,000 denominations notes were withdraw by the RBI three years ago. It marks the significant milestone in the India’s currency management process and it reflects the smooth transition from the valid notes.The RBI have announced the withdrawal of ₹2,000 banknotes from circulation on 19th May, 2023. This decision comes from the central bank of India for its currency management strategy.At that time the total circulation of thee valid notes is approximately around ₹3.56 lakh crore.Unlike the demonetization this move did not invalidate the notes but it is aims to gradually reduce their circulation.
