RBI Reports 97.62% Return of ₹2,000 Notes; Circulation Value Drops to ₹8,470 Crore

The Reserve Bank of India (RBI) disclosed that 97.62% of ₹2,000 banknotes in circulation as of May 19 last year have been returned. The total value of these notes, which was ₹3.56 lakh crore in May, has dwindled to ₹8,470 crore by February 29, 2024. This follows the withdrawal announcement on May 19, 2023, with continuous updates on returns. The ₹2,000 notes remain legal tender despite the discontinuation.