Half of Rs.2000 notes back in banking system

RBI governor Shaktikanta Das said that the recent decision to recall Rs 2,000 denomination notes has resulted in the return of nearly half of such notes to banks.

About Rs 1. 8 lakh crore worth of Rs 2,000 notes have been returned, accounting for nearly 50% of the currency in circulation as of March 31, Das said. While the governor did not provide an exact breakdown of how many notes were exchanged, he estimated that roughly 85% of the returned notes were deposited. “This is more or less in line with our expectations,” said Das.