People can now send their Rs 2,000 banknotes to regional offices of RBI via insured post for direct credit in their bank accounts, providing convenience for those unable to visit in person. RBI offers a Triple Lock Receptacle (TLR) form for deposits. The options are secure and eliminate the need to travel to designated branches and stand in queues.
The Reserve Bank of India (RBI) said in a circular on Wednesday that it has received over 97 per cent of Rs 2,000 notes, however, notes worth Rs 10,000 crore are still with public. This year in May, the bank had officially announced the withdrawal of Rs 2,000 notes.
The Reserve Bank on Wednesdays said more than 97 per cent of the Rs 2,000 banknotes in circulation have been returned to the banking system, and only Rs 10,000 crore worth of such notes are still with the public.
Reserve Bank of India (RBI) Governor Shaktikanta Das has stated that the Rs 2,000 denomination notes are returning and only Rs 10,000 crore worth of such notes are still with the public. He expressed confidence that the remaining notes will also be returned or deposited back. Earlier this month, Das had announced that 87% of the Rs 2,000 notes being withdrawn had been deposited into banks, while the rest had been exchanged across counters. The RBI had previously declared its plan to phase out the Rs 2,000 note, which was introduced in 2016.
Public and entities holding such notes were initially asked to either exchange or deposit them in bank accounts by September 30. The last date was later extended to October 7.