New Delhi:
The Reserve Bank of India (RBI) today announced the withdrawal of ₹2000 denomination banknotes, which was initially announced on May 19, 2023. As of the announcement date, 98.26% of the ₹2000 banknotes in circulation have been returned.
The total value of ₹2000 banknotes in circulation stood at ₹3.56 lakh crore as of the close of business on May 19, 2023. This figure has now declined to ₹6,181 crore as of the close of business on May 31, 2025.
The RBI facility for exchanging ₹2000 banknotes has been available at 19 Issue Offices since May 19, 2023. From October 9, 2023, RBI Issue Offices are now also accepting ₹2000 banknotes from individuals and entities for deposit into their bank accounts.
The 19 RBI Issue Offices are located in various cities like Ahmedabad, Bengaluru, Bhopal, etc. Members of the public are also sending ₹2000 banknotes through India Post to any of the RBI Issue Offices, and the RBI reiterated that the ₹2000 banknotes continue to be legal tender.
The ₹2000 banknote was introduced in November 2016 to meet currency requirements expeditiously after the withdrawal of the legal tender status of all ₹500 and ₹1000 banknotes. The printing of ₹2000 banknotes was stopped in 2018-19 once other denominations became available in adequate quantities.
