It said that the number of Rs 2,000 notes in circulation fell to 418 million in volume terms on June 30, from 1.77 billion on May 19.
The value of these notes in circulation fell to Rs 84,000 crore on June 30 from Rs 3.56 trillion on May 19, the ministry added.
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The Rs 2,000 denomination banknote was introduced in November 2016 under Section 24(1) of the RBI Act, 1934, primarily to meet the economy’s currency requirements in a timely manner following the withdrawal of the legal tender status of all Rs 500 and Rs 1,000 banknotes in circulation at the time.
First Published: Jul 31 2023 | 1:19 PM IST