MORE THAN TWO-THIRDS OF RS 2,000 NOTES RETURNED WITHIN A MONTH OF WITHDRAWAL: DAS

Reserve Bank Governor Shaktikanta Das has said that within a month of the recall order, more than two-thirds of the Rs 2,000 currency notes have returned to the system.

- RADHA RAMAN MISHRA

In a surprise move, but as part of the clean note policy, the Reserve Bank had on May 19 ordered the recall of the Rs 2,000 banknotes worth around R 3.62 lakh crore.

On June 8, announcing the second monetary policy review of the fiscal, Das had said around Rs 1.8 lakh crore worth of the Rs 2,000 notes have been returned, accounting for approximately 50 per cent of the notes in circulation as of March 31, of which 85 per cent were in deposits and the rest in exchange.

"More than two-thirds or Rs 2.41 lakh crore worth of the Rs 3.62 lakh crore (as of March 31, 2023) of the now recalled 2000 banknotes have come back to the system as of mid-last week," Governor Das told PTI Bhasha in an interview at the RBI headquarters last week. Of the total money that has come back to the system, as much as 85 per cent are in deposits and the rest in currency exchanges, he explained.