Mumbai, Feb. 1 -- Over 95 percent of the Rs 2,000 currency notes in circulation as of May 19, 2023, are back in the banking system, the Reserve Bank of India (RBI) said on Thursday.

The central bank declared the withdrawal of high-value denomination banknotes from circulation as a component of its clean note policy.

Starting from October 09, 2023, the RBI Issue Offices are now also receiving Rs 2,000 banknotes from individuals and entities for deposit into their bank accounts.

The central bank announced the withdrawal of Rs 2,000 banknotes in line with its clean note policy.

The RBI had introduced Rs 2,000 banknotes in November 2016 to fulfill the demand for currency in the economy after the legal tender status of Rs 500 and Rs 1,000 ...