98.39% of the ₹2000 banknotes by far returned: RBI

Reserve Bank of India Announces Significant Decline in ₹2000 Banknotes in Circulation

The Reserve Bank of India (RBI) has released an update on the circulation of ₹2000 banknotes in the country, stating that a significant amount has been returned since the withdrawal was announced in May 2023.

Decline in Circulation of ₹2000 Banknotes

The total value of ₹2000 banknotes in circulation, which stood at ₹3.56 lakh crore on May 19, 2023, has declined to ₹5,743 crore as of November 29, 2025, indicating a return of approximately 98.39% of the notes in circulation at that time.

Availability of Exchange and Deposit Facilities

• The facility for deposit and / or exchange of ₹2000 banknotes was available at all bank branches in the country until October 07, 2023.
• The facility for exchange of ₹2000 banknotes is now available at the 19 Issue Offices of the RBI, which have been accepting the notes since May 19, 2023.
• From October 09, 2023, RBI Issue Offices have started accepting ₹2000 banknotes from individuals / entities for deposit into their bank accounts.
• Additionally, members of the public can send ₹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.

Legality of ₹2000 Banknotes

The RBI has clarified that the ₹2000 banknotes continue to be legal tender, and individuals can still deposit or exchange them at the designated facilities.

• May 19, 2023: Withdrawal of ₹2000 denomination banknotes from circulation announced.
• October 07, 2023: Facility for deposit and / or exchange of ₹2000 banknotes available at all bank branches.
• October 09, 2023: RBI Issue Offices start accepting ₹2000 banknotes from individuals / entities for deposit into their bank accounts.