New Delhi: Shaktikanta Das, Governor of the Reserve Bank of India, in his latest interview, said that around 72 per cent of the Rs 2,000 denominations had been collected from the public thus far. Das added that Rs 2,00 bank notes cumulating to Rs 2.62 lakh crore is now resting with banks through public deposits. Das shared that the total value of Rs 2,000 banknotes amounted to Rs 3.62 lakh crores as on March 31.

Moving ahead, the head of the apex bank explained in detail that the Rs 2,000 banknote recall will have no impact on monetary stability. Das, however, mentioned the paper money coming back into the system, with 85 per cent of the monies in the form of deposits and the rest in currency exchanges.

Governor told PTI Bhasha in an interview: “One thing I can clearly tell you that the Rs 2,000 note that we are withdrawing right now will not have any negative impact on the economy.”

Mini-Demonetisation

Bank notes of Rs 2,000 were launched in November 2016 (under Section 24(1) of the RBI Act,1934), just a few days after the November 8 demonetisation when the government had taken back the legal tender status of all the 500 and 1000 banknotes.

The Apex Bank, along with the government, gauged GDP growth for fiscal 2023 to be at 6.5 per cent and 8,1 per cent for the first quarter.

RBI declared a recall of the Rs 2,000 banknotes on May 19, asking banks to collect notes from the public on May 23.