88% of ₹2000 banknotes have returned, says RBI

The Reserve Bank of India has announced the current status of the withdrawal of ₹2000 banknotes from the circulation. The total value of ₹2000 banknotes amounted to ₹3.62 lakh crore on March 31, 2023 but the note in circulation at the close of business on July 31 stood at ₹0.42 lakh crore. Means,88% of the ₹2000 banknotes in circulation as on May 19, 2023, have since been returned. Of the total notes received back, about 87% is in the form of deposits and the remaining around 13% has been exchanged into other denomination banknotes.