New Delhi: The Reserve Bank of India has provided an update on the return of Rs 2000 notes following its announcement of their withdrawal earlier this year.
Reserve Bank Governor Shaktikanta Das disclosed that a significant portion of Rs 2000 notes has already been returned to the bank. He stated, “We had previously announced the withdrawal of Rs 2000 notes, and up to this point, we have received Rs 3.24 lakh crore worth of Rs 2000 notes. However, there are still Rs 12 thousand crores worth of these notes yet to be returned, which accounts for 87 percent of the total notes.”
In the latest monetary policy review meeting held by the Reserve Bank, it was decided to maintain the repo rate at 6.5 percent for the fourth consecutive time.
VIDEO | "We have announced the withdrawal of Rs 2,000 currency notes. So far, we have got back Rs 2,000 notes worth about 3.43 lakh crore, and about 12,000 crore are left. 87 percent of it has come as bank deposits," says RBI Governor Shaktikanta Das. pic.twitter.com/59OKB6iRMO— Press Trust of India (@PTI_News) October 6, 2023
The RBI has also made changes to the Bullet Payment Scheme, doubling the limit for gold loans available to Urban Cooperative Banks to Rs 4 lakh.
Governor Shaktikanta Das emphasized that, despite certain risks, the GDP growth estimate for the current financial year remains at 6.5 percent.
The monetary policy review meeting of the RBI, which began on October 4, concluded on Friday with these important updates.