Rs 2000 notes worth Rs 1.80 lakh crore returned: RBI gives update on rumours of Rs 500 notes ban
RBI Governor Shaktikanta Das has revealed that about 50 percent of the Rs 2,000 notes worth Rs 1.80 lakh crore have been returned till now.
Reserve Bank of India (RBI) Governor Shaktikanta Das has informed that about 50 percent of the pink notes have been returned after the apex bank announced the decision to withdraw 2000 notes from circulation on May 19, 2023. As per the RBI Governor, notes worth Rs 1.80 lakh crore have returned to all the banks in the country.
RBI Governor Shaktikanta Das shared information about the decisions taken in the MPC meeting and the major issues raised. He talked about the interest rates and also presented data on the return of Rs 2,000 pink notes taken out of circulation and updated the rumours about the Rs 500 notes being banned.
Will Rs 500 rupee notes be banned?
RBI Governor Shaktikanta Das has revealed that the Reserve Bank has no plans to withdraw Rs 5,00 notes from circulation. He has advised the citizens not to trust such unfounded speculations. He has also quashed all rumours regarding the reintroduction of Rs 1,000 note in the country.
Shaktikanta Das said in his statement after the meeting that RBI neither has any plan to withdraw Rs 500 notes nor has any plan to issue new Rs 1,000 notes again.
How many 2000 notes returned so far?
RBI Governor Shaktikanta Das presented the data of how many Rs 2000 notes have been deposited in the bank so far. He said that since the decision to withdraw 2000 notes from circulation, about 50 percent of the pink notes have been returned.
According to the RBI, a total of Rs 2000 notes worth Rs 3.62 lakh crore were claimed in the country till March 31, 2023. Out of these, notes worth Rs 1.80 lakh crore have been returned to all the banks in the country, said the RBI Governor.
On May 19, 2023, the RBI had announced the closure of Rs 2,000 notes under the Clean Note Policy and gave people the facility to exchange these notes with them through banks. The process of changing 2000 rupee notes in the country’s banks has started from May 23 and the deadline for the exchange or deposit is till September 30, 2023. He expected that most of the notes will come back to the banks by the set deadline.
RBI Governor Shaktikanta Das further said that there is no need to panic to exchange or deposit Rs 2000 notes.