The Reserve Bank of India (RBI) has reported significant progress in the withdrawal of ₹2000 banknotes, with 97.76% of these notes returned as of April 30, 2024. The total value of ₹2000 banknotes in circulation was ₹3.56 lakh crores on May 19, 2023, the date of the announcement, and has since declined to ₹7961 crores. Despite the withdrawal, ₹2000 banknotes remain legal tender. Additionally, RBI has imposed a monetary penalty of ₹2 lakhs on The Satara Sahakari Bank Limited, Mumbai, for non-compliance with specific provisions of section 12(2) read with section 56 of the Banking Regulation Act, 1949.
On May 19, 2023, the #RBI announced the withdrawal of ₹2000 denomination banknotes from circulation Read more https://t.co/cOoewI06vA https://t.co/61MxjwnZ2A
98% of Rs 2,000 notes returned since May when it was withdrawn, says RBI https://t.co/63cMvtE6hm
🔴 #NewsAlert | Total value of Rs 2000 banknotes in circulation, which was Rs 3.56 lakh crores on May 19, 2023, when the withdrawal of Rs 2000 banknotes was announced, has declined to Rs 7961 crores on April 30, 2024. Rs 2000 banknotes continue to be legal tender: RBI | reported… https://t.co/udXZF5kfW5
The total value of Rs 2000 banknotes in circulation, which was Rs 3.56 lakh crores at the close of business on May 19, 2023, when the withdrawal of Rs 2000 banknotes was announced, has declined to Rs 7961 crores at the close of business on April 30, 2024. Thus, 97.76% of the Rs… https://t.co/9SQztGcJEk
RBI has imposed a monetary penalty of Rs 2 lakhs on The Satara Sahakari Bank Limited, Mumbai, Maharashtra (the bank) for non-compliance with certain provisions of section 12(2) read with section 56 of the Banking Regulation Act, 1949 (BR Act) and directions issued by RBI on… https://t.co/6chGXCYW9o
97.76% of Rs 2000 Banknotes Returned, Rs 7,961 Crore Yet To Be Deposited: RBI #2000Notes #RBI #Finance #Business #NoteChange https://t.co/Lh1QpUbzBn
JUST IN | RBI says 97.76% of ₹2,000 banknotes have been returned: Agencies @RBI https://t.co/ZdNmZndIf3