Around 35% of Rs 2,000 currency notes deposited or exchanged so far

The withdrawal process, which started on May 23, will continue until September 30, 2023

The withdrawal of Rs 2,000 banknotes, which started from May 23, gathered pace with around 35 per cent of such notes being either deposited or exchanged thus far, top central banking sources told Business Standard.

There were 1.81 billion pieces of Rs 2,000 banknotes in circulation as on March 31, comprising 1.3 per cent of total circulation in volume terms.

The Reserve Bank of India (RBI) stopped printing the Rs 2,000 denomination in 2018-19. The total value of these banknotes in circulation declined from Rs 6.73 trillion at their peak on March 31, 2018 (37.3 per cent of notes in circulation) to