98.39% of ₹2000 Notes Returned to RBI
The Reserve Bank of India (RBI) announced on Monday that 98.39% of the ₹2000 denomination banknotes in circulation have been returned since their withdrawal was announced in May 2023.
Key Takeaways
- 98.39% Returned: Notes worth ₹3.56 lakh crore have come back.
- Current Circulation: Only ₹5,743 crore worth of notes remain.
- Legal Tender Status: ₹2000 notes remain legal tender.
- Exchange Options: Available at 19 RBI Issue Offices and via India Post.
Sharp Decline in Circulation
The total value of ₹2000 banknotes in circulation has plummeted from ₹3.56 lakh crore on May 19, 2023, to just ₹5,743 crore as of November 29, 2025. This represents the near-complete return of the high-value currency.
Withdrawal Timeline and Process
The RBI announced the withdrawal of the ₹2000 denomination from circulation on May 19, 2023. The initial facility for deposit or exchange at all bank branches was available until October 7, 2023.
Currently, the exchange facility is available at the 19 Issue Offices of the RBI. Since October 9, 2023, these offices have also been accepting notes for direct deposit into individuals’ or entities’ 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.
Legal Tender Status Remains
The RBI reiterated that the ₹2000 banknotes continue to be legal tender, meaning they can still be used for transactions.
