RBI: 98.15% Of Rs 2000 Notes Returned, Only Rs 6,577 Crore Still With Public

The Reserve Bank on Monday said 98.15% of the 2000-rupee denomination banknotes have been returned to the banking system, and only Rs 6,577 crore worth of such notes are with the public. On May 19, 2023, the Reserve Bank of India announced the withdrawal of Rs 2000 denomination banknotes from circulation.

The total value of Rs 2000 banknotes in circulation, which was Rs 3.56 lakh crore at the close of business on May 19, 2023, when the withdrawal of the currency notes was announced, has declined to Rs 6,577 crore at the close of business on Jan. 31, 2025, the RBI said in a statement.

"Thus, 98.15% of the Rs 2000 banknotes in circulation as on May 19, 2023, has since been returned," it said.

The facility for deposit and/or exchange of the Rs 2000 banknotes was available at all bank branches till Oct. 7, 2023. However, this facility is still available at the 19 issue offices of the Reserve Bank.

From Oct. 9, 2023, the RBI issue offices are also accepting Rs 2000 banknotes from individuals and entities for deposit into their bank accounts.

Further, members of the public can also send Rs 2000 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 Rs 2000 banknotes continue to be legal tender.

The 19 RBI offices depositing/exchanging the banknotes are in Ahmedabad, Bengaluru, Belapur, Bhopal, Bhubaneswar, Chandigarh, Chennai, Guwahati, Hyderabad, Jaipur, Jammu, Kanpur, Kolkata, Lucknow, Mumbai, Nagpur, New Delhi, Patna and Thiruvananthapuram.

The Rs 2000 banknotes were introduced in November 2016, following the demonetisation of the then-prevailing Rs 1,000 and Rs 500 banknotes.