If this is the case, how can India progress?

According to a report released by the Reserve Bank of India, as on December 1, 2023, there are still 2,000 rupee notes worth Rs 9,760 crore with the public.

2000 rupee, Indian money

Has the Rs.2000 notes fully reached RBI?

The Rs 2,000 notes introduced in November 2016 have been withdrawn from circulation from September 30, 2022. But by then, 2,000 rupee notes worth Rs 3.62 lakh crore were in circulation among the public. The public was allowed to exchange or deposit these notes in banks from 23 October 2022 to 31 March 2023.

During this period, Rs 2,000 notes worth Rs 2.65 lakh crore were transferred or deposited in banks. So, there are still Rs 9,760 crore worth of Rs 2,000 notes with the public.

In this case, time has been given till 30th September last to exchange 2000 rupee notes in banks and then till 7th October.

The deadline was extended.

RBI has extended the deadline for withdrawing these notes till 31st March 2024, then from last October 8, permission has been given to credit the accounts either directly or through 'India Post' at 19 branches of RBI Small Bank across the country.

Those who do not exchange or deposit Rs 2,000 notes in banks by this date will be considered illegal, the RBI has announced.

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