Share Of Rs 500 Note Jumps To 86.5% After Rs 2,000 Note Withdrawn: RBI
NDTV
The central bank's annual report attributed the surge primarily to the withdrawal of the Rs 2,000 denomination notes announced in May 2023.
The share of Rs 500 denomination currency notes in overall currency has jumped to 86.5 per cent at the end of March 2024, as against 77.1 per cent in the year-ago period, the Reserve Bank of India (RBI) said on Thursday.
The central bank's annual report attributed the surge primarily to the withdrawal of the Rs 2,000 denomination notes announced in May 2023. The share of this denomination has reduced to 0.2 per cent from 10.8 per cent in the year-ago period.
Volume-wise, the Rs 500 denomination was the highest at 5.16 lakh notes while the Rs 10 denomination came a distant second at 2.49 lakh as of March 31, 2024, as per data shared in an annual report.
