RBI data: Rs 2000 notes worth Rs 6,266 cr still in circulation after withdrawal 2 yrs ago

Mumbai: The high value Rs 2000 notes worth Rs 6,266 crore are still in circulation after two years of the Reserve Bank withdrawing the currency, according to official data. The Rs 2000 banknotes continue to be legal tender. On May 19, 2023, the Reserve Bank of India (RBI) announced the withdrawal of Rs 2000 denomination banknotes from circulation.

In a statement on Friday, the RBI said the total value of Rs 2000 banknotes in circulation, which was Rs 3.56 lakh crore at the close of business on May 19, 2023, when the withdrawal was announced, declined to Rs 6,266 crore at the close of business on April 30, 2025.

“Thus, 98.24 per cent of the Rs 2000 banknotes in circulation as on May 19, 2023, have since been returned,” the central bank said.

The facility for deposit and/or exchange of such banknotes was available at all bank branches till October 7, 2023. However, this facility is still available at the 19 issue offices of the Reserve Bank.

Since October 9, 2023, RBI issue offices are also accepting Rs 2000 banknotes from individuals and entities for deposit into their bank accounts. Further, people can also send Rs 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.