The Reserve Bank of India withdrew Rs 2000 notes from circulation on Friday — nearly three years after it discontinued the banknote. It will remain as legal tender with exchange facility is available through RBI issue offices across the country.
“The facility for exchange of the ₹2000 banknotes is available at the 19 Issue Offices of the Reserve Bank since May 19, 2023. From October 09, 2023, RBI Issue Offices are also accepting ₹2000 banknotes from individuals / entities for deposit into their bank accounts. Further, members of the public are sending ₹2000 banknotes through India Post from any post office within the country, to any of the RBI Issue Offices for credit to their bank accounts,” an official press note added.
According to details shared by the RBI, the total value of Rs 2000 banknotes in circulation has now dropped sharply from Rs 3.56 lakh crore at the close of business on May 19, 2023 — when the withdrawal of ₹2000 banknotes was announced. It has now declined to Rs 5,669 crore at the close of business on December 31, 2025. Thus, 98.41% of the ₹2000 banknotes in circulation as on May 19, 2023, has since been returned.
This story is being updated with additional details.