Key Takeaways
- Rs 5,817 crore worth of Rs 2,000 notes remain in circulation despite 2023 withdrawal
- 98.37% of original Rs 2,000 notes have been returned to RBI
- Notes remain legal tender; exchange facilities available across India
High-value Rs 2,000 banknotes worth Rs 5,817 crore continue to circulate in India’s economy, according to latest Reserve Bank of India data released on Saturday. The central bank had originally announced the withdrawal of these denomination notes on May 19, 2023.
The RBI confirmed that Rs 2,000 banknotes remain legal tender despite the withdrawal announcement. Official data shows a dramatic decline from the original Rs 3.56 lakh crore in circulation when the withdrawal was announced to just Rs 5,817 crore as of October 31, 2025.
“Thus, 98.37 per cent of the Rs 2,000 banknotes in circulation as on May 19, 2023, has since been returned,”
Exchange Facilities Available Nationwide
The RBI continues to provide exchange facilities at its 19 issue offices across India since the original May 19, 2023 announcement. Starting October 9, 2023, these offices also accept Rs 2,000 banknotes for direct deposit into bank accounts.
Additionally, the public can utilize India Post services to send Rs 2,000 notes from any post office to RBI issue offices for credit to their bank accounts.
RBI Issue Office Locations
The 19 RBI issue offices are located in: Ahmedabad, Bengaluru, Belapur, Bhopal, Bhubaneswar, Chandigarh, Chennai, Guwahati, Hyderabad, Jaipur, Jammu, Kanpur, Kolkata, Lucknow, Mumbai, Nagpur, New Delhi, Patna, and Thiruvananthapuram.
The central bank periodically updates the public on the withdrawal status of Rs 2,000 banknotes through official publications.
