Two thousand rupee banknotes are still legal tender. RBI had announced the withdrawal of Rs 2,000 banknotes from circulation on 19 May 2023.

RBI said in a statement that the total value of Rs 2,000 bank notes in circulation as of May 19, 2023 was Rs 3.56 lakh crore, which has come down to Rs 6,017 crore by July 31, 2025. In this way, 98.31 percent of the Rs 2,000 bank notes in circulation as of May 19, 2023 have been returned. The facility of exchanging two thousand rupees bank note is available in 19 issue offices of the Reserve Bank from May 19, 2023.

This is how you can deposit 2,000 rupee notes\

From 9 October 2023, the issue offices of the Reserve Bank are also accepting Rs 2,000 bank notes from individuals / institutions for depositing them in their bank accounts. Apart from this, people are sending Rs 2,000 notes through Indian Post from any post office in the country to any issue office of RBI to deposit them in their bank accounts. These issue offices are in Ahmedabad, Bengaluru, Belapur, Bhopal, Bhubaneswar, Chandigarh, Chennai, Guwahati, Hyderabad, Jaipur, Jammu, Kanpur, Kolkata, Lucknow, Mumbai, Nagpur, New Delhi, Patna and Thiruvananthapuram.

2,000 note was introduced in 2016

The ₹2000 note was introduced in November 2016 under Section 24(1) of the Reserve Bank of India Act, 1934. Its main purpose was to quickly meet the country’s currency needs when old ₹500 and ₹1000 notes were demonetised. When this purpose was achieved and sufficient number of notes of other denominations became available, printing of ₹2000 notes was discontinued in 2018-19. Most of the ₹2000 notes were issued before March 2017 and have now reached the end of their expected life (4-5 years). It has also been observed that ₹2000 notes are not commonly used in transactions.

The post RBI’s Big Update on ₹2,000 Notes: What You Need to Know first appeared on Rightsofemployees.com.

Reserve Bank of India i.e. RBI has given a big update regarding the note of Rs 2000 on Thursday. RBI said that about 97.5 percent of the Rs 2,000 notes have returned to the banking systems. The central bank said that only Rs 8,897 crore worth of notes are still with the public. Let us tell you that on May 19, 2023, RBI had announced to withdraw bank notes of Rs 2,000 denomination from circulation.

The central bank said in a statement, “When the withdrawal of Rs 2,000 bank notes was announced on May 19, 2023, at the close of business on that day, a total of Rs 3.56 lakh crore worth of such notes were in circulation, while 31 lakh crore were in circulation.” At the close of business on January 2024, this amount reduced to Rs 8,897 crore.

Withdrawal of ₹2000 Denomination Banknotes – Statushttps://t.co/nKlN0KZJqG

— ReserveBankOfIndia (@RBI) February 1, 2024

Bank notes of Rs 2,000 will remain legal tender. 
Thus, 97.5 percent of the total bank notes of Rs 2,000 in circulation till May 19, 2023 have been returned. “Rs 2,000 bank notes will continue to be legal tender,” RBI said.

Rs 2,000 notes can also be sent to RBI through India Post.

People can deposit or exchange Rs 2,000 bank notes in 19 RBI offices across the country. People can send Rs 2,000 bank notes through India Post from any post office to any RBI office for depositing in their bank accounts in India.

The post RBI gives new update on ₹2,000 note! Notes worth Rs 8,897 crore still with the public first appeared on Rightsofemployees.com.