Rs.2000 Banknotes Update: 98.31% of the total Rs.2000 banknotes returned

The Reserve Bank of India (RBI) has released an update regarding Rs.2000 denomination banknotes. At the time of the withdrawal announcement on May 19, 2023, ₹2000 notes worth ₹3.56 lakh crore were in circulation. By July 31, 2025, this figure had sharply declined to just ₹6,017 crore, indicating that approximately 98.31% of the total ₹2000 banknotes in circulation have been returned.

The Reserve Bank of India (RBI) had announced the withdrawal of ₹2000 denomination banknotes from circulation through a press release dated May 19, 2023. Since then, the RBI has been periodically updating the public on the status of the withdrawal, with the most recent update published on July 1, 2025.

Initially, individuals were allowed to deposit or exchange ₹2000 notes at all bank branches across the country until October 7, 2023. Thereafter, from October 9, 2023, the facility for depositing or exchanging these notes has been available only at the 19 Issue Offices of the RBI.

In addition to in-person exchanges, the RBI also permitted the public to send ₹2000 notes via India Post from any post office in India to any RBI Issue Office for credit into their bank accounts. It is important to note that despite being withdrawn from circulation, ₹2000 notes continue to be considered legal tender and remain valid for use.