Rs 2000 notes now 1.6% of total currency notes in circulation
The total number of currency notes in circulation, according to the RBI report, stood at 13,053 crores as of March this year, up from 12,437 crores from the year-ago period.
FollowA steady decline is reported in the number of banknotes of Rs 2000 denomination over the years to touch 214 crores or 1.6 per cent of the total currency notes in circulation in the fiscal ending March 2022. According to the RBI’s annual report, in March 2020, the number of Rs 2000 denomination notes in circulation was 274 crore, 2.4 per cent of the total number of currency notes in circulation.
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The total number of currency notes in circulation, according to the RBI report, stood at 13,053 crores as of March this year, up from 12,437 crores from the year-ago period.
Year-on-year decline
In March 2020, the number of Rs 2000 denomination notes in circulation stood at 274 crores, 2.4 per cent of the total number of currency notes in circulation, reported PTI, quoting the RBI report.
It declined in March 2021 to 245 crore or 2 per cent of the total banknotes in circulation in that fiscal year, it said.
It further fell in March 2022 to 214 crore or 1.6 per cent of the total circulation.
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The decline was also witnessed in value terms - the Rs 2000 denomination notes dipped from 22.6 per cent of the total value of currency notes in circulation to 17.3 per cent at the end of March 2021. In March 2022, the kit dipped further to 13.8 per cent.
The Currency in Circulation includes banknotes and coins. Presently, the Reserve Bank of India (RBI) issues banknotes in denominations of Rs 2, Rs 5, Rs 10, Rs 20, Rs 50, Rs 100, Rs 200, Rs 500 and Rs 2000. Coins in circulation comprise 50 paise and Rs 1, Rs 2, Rs 5, Rs 10, and Rs 20 denominations.
