76% Of ₹ 2,000 Notes In Circulation Have Been Returned To Banks: RBI
The Indian Rs 2000 note was introduced on November 8, 2016, by the Reserve Bank of India (RBI). On May 19, 2023, the RBI said it was withdrawing the note from circulation. The central bank said the note would continue to remain legal tender but asked citizens to deposit or exchange the notes at banks by September 30, 2023.
Till it remains legal tender, the Rs 2000 note is the highest denomination currency note in India. The note was introduced as part of the government’s demonetisation exercise aimed at curbing corruption, black money, and counterfeit currency.
About Rs 2000 Note
The Rs 2000 note is a magenta-coloured note with the obverse side featuring a portrait of Mahatma Gandhi, the Ashoka Pillar Emblem, and the signature of the RBI Governor. It has Braille print on it, to assist the visually challenged in identifying the currency.
The reverse side features a motif of the Mangalyaan, representing India’s first interplanetary space mission, and the logo and tagline for Swachh Bharat Abhiyan.
The Rs 2000 note has a number of security features to prevent counterfeiting. These features include A watermark of Mahatma Gandhi, a security thread with the RBI logo, a latent image of Mahatma Gandhi, a fluorescent strip, micro-lettering, colour-shifting ink, and a 3D security feature, among others.
Here is a step-by-step guide to exchanging Rs 2000 notes in bank
Step 1 – Visit the nearest bank branch with Rs 2000 notes available to you.
Step 2- Fill in the requisition slip, and enter the details required to facilitate the exchange process of Rs 2000 notes.
Step 3: Submit the slip along with Rs 2000 notes to be exchanged with other denominations.
Data collected from major banks indicates that out of the total banknotes in ₹ 2000 denomination received back from circulation, about 87 per cent is in the form of deposits and the remaining around 13 per cent has been exchanged into other denomination bank notes.