Mumbai, May 2
As many as 98.24 per cent of the Rs 2,000 banknotes which were in circulation as on May 19, 2023, have now been returned with the total value of such notes outside the banking system coming down to Rs 6,266 crore at the close of business on April 30, 2025, according to an RBI update on Friday.
The total value of these banknotes in circulation was Rs 3.56 lakh crore at the close of business on May 19, 2023, when the withdrawal of Rs 2,000 banknotes was announced, which means less than 2 per cent of them are still in circulation.
The Rs 2,000 banknotes continue to be legal tender.
The facility for exchange of the Rs 2,000 banknotes is available at the 19 Issue Offices of the Reserve Bank since May 19, 2023. From October 9, 2023, RBI Issue Offices are also accepting Rs 2,000 banknotes from individuals/entities for deposit into their bank accounts. Further, members of the public are sending Rs 2, 000 banknotes through India Post from any post office within the country, to any of the RBI Issue Offices for credit to their bank accounts, the official statement said.
The Reserve Bank of India (RBI) had announced the withdrawal of Rs 2,000 denomination banknotes from circulation on May 19, 2023. The status of withdrawal of these banknotes is periodically published by the RBI. The last press release in this regard was published on October 1, 2024. The facility for deposit or exchange of the Rs 2,000 banknotes was available at all bank branches in the country up to October 7, 2023.