Mumbai: The Reserve Bank of India (RBI) announced a temporary closure of Rs 2000 notes exchange facility. The facility to exchange and deposit Rs 2,000 notes will not be available at RBI offices on January 22. This decision was taken due to the consecration of the Ram temple in Ayodhya.
‘The facility of exchange / deposit of Rs 2000 banknotes will not be available on Monday, January 22, 2024 at any of the 19 Issue Offices of the Reserve Bank of India due to the half-day closure announced by the Government of India,’ the central bank said in a statement. The facility will resume on Tuesday, January 23, 2024.
Earlier the Department of Personnel and Training of the RBI has issued an order for a half-day closure of central government establishments for the date. All public sector banks, insurance companies, financial institutions and regional rural banks (RRBs) across the country will remain closed for half a day on the special day of January 22.
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On May 19, last year, the RBI announced the withdrawal of Rs 2,000 bank notes from circulation. The total value of Rs 2,000 bank notes in circulation, which amounted to Rs 3.56 lakh crore at the close of business on May 19, 2023 (when the withdrawal of the currency notes was announced), has declined to Rs 9,330 crore at the close of business on December 29, 2023.
As much as 97.38 per cent of Rs 2000 notes in circulation as of May 19, 2023, has since been returned to the banking system as of December 29, 2023. The Rs 2,000 bank notes were introduced in November 2016, following the demonetisation of the then-prevailing Rs 1,000 and Rs 500 bank notes
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