98.18% of Rs.2000 bank notes returned to RBI

The Reserve Bank of India (RBI) had announced the withdrawal of ₹2000 denomination banknotes from circulation through a press release on May 19, 2023. RBI regularly updates the public on the status of this withdrawal, with the latest press release issued on February 3, 2025.

Deposit & Exchange Facilities

• The facility to deposit or exchange ₹2000 banknotes at bank branches across the country was available until October 7, 2023.
• Since May 19, 2023, individuals can exchange ₹2000 banknotes at the 19 RBI Issue Offices.
• From October 9, 2023, these RBI Issue Offices also started accepting ₹2000 banknotes for deposit into bank accounts.
• Additionally, the public can send ₹2000 banknotes via India Post from any post office to an RBI Issue Office for credit to their bank account.

Decline in ₹2000 Notes in Circulation

• When the withdrawal was announced on May 19, 2023, the total value of ₹2000 banknotes in circulation stood at ₹3.56 lakh crore.
• As of February 28, 2025, this has dropped significantly to ₹6,471 crore, meaning 98.18% of ₹2000 banknotes have been returned.

Legal Tender Status

Despite the withdrawal, the ₹2000 banknotes remain legal tender.

0 Comments

*Enter your name

*Email not valid.

*2 characters minimum.

Do not change these fields following