The Reserve Bank of India had withdrawn the Rs 2000 currency notes from circulation on May 19, 2023. However, based on the latest data from the RBI, it was revealed that as of June 30, 2025, Rs 6,099 crore worth of Rs 2000 notes were still in the market.
The question on the minds of many people is whether the Rs 2000 notes they have now become illegal? Can any legal action be taken against them due to the notes they have? These questions and the confusion surrounding the Rs 2000 notes have now been cleared by RBI Governor Sanjay Malhotra. Malhotra told the Parliamentary Standing Committee on Finance on Thursday that the Rs 2000 notes are no longer in circulation, that is, they are not being issued from banks, but they are still legal tender. He also clarified that the Reserve Bank has not declared these notes illegal.
This means that you can still keep the Rs 2000 note with you and no legal action will be taken against you for doing so. Being a legal tender means that if you have these notes, you can deposit them in banks or exchange them at the regional offices of the RBI. You can also send the Rs 2000 note through the post office to any issuing office of the RBI.
Indian economy is strong…
RBI Governor Sanjay Malhotra gave a detailed briefing on the state of the Indian economy and financial system before the Parliament Standing Committee on Finance. He assured the members that despite the global economic volatility, the country’s economy is in a strong position and is performing well. Committee chairman Bharatruhari Mehtab, who chaired the meeting, described the discussion as “very meaningful” and said that several important issues were discussed in detail. The main focus of the discussion was on the ₹ 2000 notes, the status of which was a source of confusion among the people.
The issue of fake notes also came up…
The issue of fake currency also came up during the meeting. An MP said that a large number of fake Rs 500 notes have been seized recently. However, he also said that this number is very less compared to the total notes in circulation. Responding to this, Governor Malhotra said that both the RBI and the government are taking this challenge seriously and strict steps are being taken to check fake notes.
The MPs also asked questions about the regulation of cryptocurrency in India and its current status. The Governor also gave detailed information to the committee on this subject and informed that the government and the concerned institutions are continuously working on it. Sanjay Malhotra will appear before the committee again at the end of July and this time the Insolvency and Bankruptcy Code (IBC) will be discussed specifically.