Rs 2,000 notes worth Rs 1.80 lakh crore have come back in banks so far: RBI Governor
Mumbai (PTI): Reserve Bank Governor Shaktikanta Das on Thursday said about 50 per cent of Rs 2,000 notes in circulation has come back in the banking system since the RBI announced withdrawal of the highest denomination currency last month.
As on March 31, 2023, he said, Rs 2,000 notes worth Rs 3.62 lakh crore were in circulation.
"So far, Rs 1.80 lakh crore have come back after the announcement," he said during an interaction with media after releasing the bi-monthly monetary policy here.
About 85 per cent of Rs 2,000 notes are coming as deposits in bank accounts and this is in line with expectation, he said.
On May 19, the Reserve Bank of India (RBI) announced the withdrawal of Rs 2,000 denomination banknotes as part of its currency management and permitted the exchange of such notes (up to Rs 20,000 in one go) from May 23 onwards. The exchange or deposit window is available till September 30, 2023.
The governor also urged the public not to panic for exchange or deposit of Rs 2,000 notes but should avoid last minute rush.
He also made it clear that RBI is not thinking of withdrawing Rs 500 notes, or even re-introducing notes in the Rs 1,000 denomination, and requested the public not to speculate on this.
Last month, the RBI governor had said the majority of the withdrawn Rs 2,000 currency notes are expected to be returned to the banking system by the September 30 deadline.
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Ajit Doval briefs Putin on Modi's Kyiv visit
New Delhi, Sep 12: National Security Advisor Ajit Doval on Thursday briefed Russian President Vladmir Putin on Prime Minister Narendra Modi's talks with Ukrainian President Volodymyr Zelenskyy in Kyiv amid renewed efforts to find a peaceful solution to the Ukraine conflict.
Doval met Putin at the Konstantinovsky Palace in St Petersburg on the margins of a conclave of the (Brazil-Russia-India-China-South Africa) grouping.
"As the prime minister told you during a telephone talk that he was keen to brief you about his visit to Ukraine and his meeting with President Zelenskyy. He (PM Modi) wanted me to come and personally brief you about the talks," Doval told the Russian President.
The NSA said the Modi-Zelenskyy talks were in a very "close format".
"I have come here on the direction of Prime Minister Modi who has conveyed his highest regards to you. His visit to Moscow was greatly successful and he was highly satisfied with the visit," Doval was heard conveying to Putin in a video released by Russian media.
The Putin-Doval meeting came nearly three weeks after Modi travelled to Ukranian capital Kyiv and held talks with Zelenskyy.
Last week, the Russian President, speaking at a panel discussion at the Eastern Economic Forum in the Russian city of Vladivostok named India, Brazil and China as possible intermediaries that could play a role in resolving the conflict.
In the meeting with Doval, Putin proposed a bilateral meeting with Modi on October 22 on the sidelines of the BRICS summit in the Russian city of Kazan next month.
The summit of the grouping will be held in Kazan from October 22-24. Modi is set to attend the summit.
In his talks with Zelenskyy, Modi said both Ukraine and Russia should sit together without wasting time to end the ongoing war and that India was ready to play an "active role" to restore peace in the region.
The prime minister said India was on the side of peace since the beginning of the conflict and he would even like to contribute personally for a peaceful resolution of the crisis.
Modi's nearly nine-hour visit to Ukraine, the first by an Indian prime minister since its independence in 1991, came six weeks after he held summit talks with Putin in Moscow.
In the last few days, there has been calls for India's potential role in pushing peace talks between Russia and Ukraine as New Delhi has good relations with both the nations.
India has been maintaining that the conflict in Ukraine must be resolved through dialogue and diplomacy.
On Saturday, Italian Prime Minister Giorgia Meloni following her talks with Zelenskyy said India and China can play a role in finding a solution to the dragging conflict.
A Kremlin readout of Putin-Doval meeting said the Russian president "noted the successful development of the Special and Privileged Strategic Partnership between India and Russia and stressed the importance of security issues in bilateral relations, thanking the Indian side for maintaining dialogue in this area."
It said the Russian president proposed the bilateral meeting with Modi to "summarise the outcomes of joint work" on the implementation of the agreements reached during the Indian leader's visit to Moscow and to outline prospects for the near future.
"We are waiting for our good friend Modi and best regards to him," the Russian media quoted Putin as saying in the meeting with Doval.
On Wednesday, the NSA held wide-ranging talks with his Russian counterpart Sergei Shoigu focusing on important issues of "mutual interests".
"Both sides reviewed progress in bilateral cooperation and discussed important issues of mutual interest," the Indian embassy in Russia said on the talks between Doval and Shoigu.
