According to the Reserve Bank of India (RBI), nearly 97.69 percent of the ₹2000 denomination bank notes have been returned to the banking system, and only ₹8,202 crore worth of the withdrawn notes are still with the public. The withdrawal of ₹2000 banknotes was announced on May 19, 2023. The total value of ₹2000 banknotes in circulation, which was ₹3.56 lakh crore at the close of business on May 19, 2023, has declined to ₹8,202 crore at the close of business on March 29, 2024.
Despite the withdrawal, ₹2000 banknotes continue to be legal tender. People can deposit and/or exchange ₹2000 banknotes at 19 RBI offices across the country. Additionally, people can send ₹2000 banknotes through India Post from any post office to any of the RBI Issue Offices for credit to their bank accounts in India.
The deadline for individuals and entities to exchange or deposit ₹2000 banknotes in bank accounts was initially set for September 30, 2023, but it was later extended to October 7, 2023. Deposit and exchange services at bank branches were discontinued on October 7, 2023. Starting from October 8, 2023, individuals have been provided with the choice of either exchanging the currency or having the equivalent sum credited to their bank accounts at the 19 RBI offices.
The 19 RBI offices where individuals can deposit or exchange ₹2000 banknotes are located in Ahmedabad, Bengaluru, Belapur, Bhopal, Bhubaneswar, Chandigarh, Chennai, Guwahati, Hyderabad, Jaipur, Jammu, Kanpur, Kolkata, Lucknow, Mumbai, Nagpur, New Delhi, Patna, and Thiruvananthapuram.
It is worth noting that the ₹2000 banknotes were introduced in November 2016 following the demonetization of the then-prevailing ₹1000 and ₹500 banknotes.