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.
