The Reserve Bank of India (RBI) has revealed that over 88% of the Rs 2,000 notes have been returned since the decision to withdraw them from circulation. As of July 31, 2023, a total of Rs 3.14 lakh crore worth of Rs 2,000 notes have been returned, leaving only Rs 420 crore in circulation.
The RBI has said that the remaining Rs 420 crore of Rs 2,000 notes will be accepted by banks and post offices till September 30, 2023. After that, these notes will cease to be legal tender.
The RBI's decision to withdraw the Rs 2,000 notes was taken in an effort to curb the counterfeiting of these notes. The high-value denomination was also seen as a major factor in the growth of black money in the country.
The withdrawal of the Rs 2,000 notes has been met with mixed reactions. Some people have welcomed the move, while others have criticized it. The RBI has said that the decision was taken after careful consideration and that it will have a positive impact on the economy in the long run.
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