The Reserve Bank of India had announced the withdrawal of Rs 2000 denomination banknotes from circulation on May 19, 2023. The total value of Rs 2000 banknotes in circulation was Rs 3.56 lakh crore at the close of business on May 19, 2023, the RBI said.

Now their total value will come down to Rs 6,366 crore at the close of business on March 31, 2025. RBI said in the statement, “Thus, 98.21 percent of the Rs 2000 banknotes in circulation as on May 19, 2023 have been returned.”

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Available in all bank branches by 2023

The facility of depositing and/or exchanging Rs 2,000 banknotes was available in all bank branches till October 7, 2023. However, this facility is still available in 19 issue offices of the Reserve Bank. From October 9, 2023, RBI issue offices are also accepting Rs 2,000 banknotes from individuals and institutions for depositing them in their bank accounts. Apart from this, common people can send Rs 2,000 notes through India Post from any post office in the country to any RBI office for depositing them in their bank account. Rs 2,000 notes will continue to be legal tender.

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