Rs 12,000 Crore Of Rs 2,000 Forex Notes Nonetheless In Circulation: RBI

RBI introduced to withdraw the Rs 2,000 notice on Might 19 (Representational)

Mumbai:

Governor Shaktikanta Das on Friday stated Rs 3.43 lakh crore of Rs 2,000 denomination notes have come again to the system thus far, and reminded the general public that they can return the withdrawn notes at 19 RBI workplaces from October 8. Addressing the customary post-policy press meet right here, Mr Das stated 87 per cent of the notes which have been returned have been deposited into financial institution accounts, whereas the remaining have been exchanged over-the-counter.

At current, over Rs 12,000 crore of notes are nonetheless in circulation, Mr Das stated, reiterating that the notes may be returned even after the tip of the prolonged interval.

It may be famous that on Might 19, the RBI stunned all by saying its intent to withdraw the Rs 2,000 notice launched in 2016 for fast remonetisation, following Prime Minister Narendra Modi’s announcement to suck out over 88 per cent of the forex in circulation by banning the Rs 500 and Rs 1,000 notes.

The RBI, which had initially given time until September 30, to get the notes deposited or exchanged, prolonged the identical by every week until October 7, on the final date.

Sustaining that the notes proceed to be authorized tender, the RBI additionally introduced a brand new system for getting them deposited or exchanged.

“… thereafter (from October 8) it may be, you recognize, deposited in or exchanged within the Reserve Financial institution within the concern workplaces of the Reserve Financial institution, which is there in nearly each state capital we’ve got a presence. So there are 19 of them,” Mr Das instructed reporters on Friday.

He added that the unique goal of withdrawing the notes, which was additionally pushed by the necessity to maintain outdated notes, has been “largely met”.

Mr Das additionally stated that the postal division’s providers may be availed in case somebody can’t journey to the RBI workplaces. 

(Aside from the headline, this story has not been edited by NDTV employees and is printed from a syndicated feed.)