Over 75% of Rs 2000 notes returned by users to banks

Over 75% of Rs 2,000 notes returned by users to banks https://ift.tt/E5mL71z May 19, the RBI decided to withdraw the ₹2,000 denomination banknotes from circulation after observing that this denomination is not commonly used for transactions. At that time, in value terms the share of ₹2,000 denomination notes was ₹3.62 lakh crore. That was about 11% of the notes in circulation at the end of March 2023 and 2% of the banking system deposit base.