Half of Rs 2,000 notes in circulation back in system: RBI Governor
Deccan ChronicleMUMBAI: The Reserve Bank of India Governor Shaktikanta Das on Thursday said 50 per cent of the to-be-withdrawn Rs 2,000 notes came back to the system. This is roughly about 50 per cent of the Rs 2000 notes which were in circulation on March 31," RBI Governor Das said at a post-monetary policy meeting press conference. On May 19, RBI decided to withdraw the Rs 2,000 denomination currency notes from circulation, but said it will continue to remain as legal tender. The Rs 2000 denomination banknote was introduced in November 2016 under Section 24 of RBI Act, 1934, primarily to meet the currency requirement of the economy in an expeditious manner after the withdrawal of the legal tender status of all Rs 500 and Rs 1000 banknotes in circulation at that time.