Mumbai: Reserve Bank of India (RBI) had announced the withdrawal of Rs 2000 banknotes from circulation. The total value of Rs 2000 banknotes in circulation, which amounted to Rs 3.62 lakh crore on March 31, 2023 had declined to Rs 3.56 lakh crore as at the close of business on May 19, 2023. According to the data received from the banks, the total value of Rs 2000 banknotes received back from circulation is Rs 3.14 lakh crore up to July 31, 2023. Consequently, Rs 2000 banknotes in circulation as at the close of business on July 31 stood at Rs 0.42 lakh crore. Thus, 88% of the Rs 2000 banknotes in circulation as on May 19, 2023, have since been returned: RBI
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