Rs 2000 Notes: A Journey from Circulation to Decline

Two years post-withdrawal, Rs 2000 notes worth Rs 5,956 crore remain in circulation. Initially valued at Rs 3.56 lakh crore in 2023, 98.33% have been returned. RBI allows bank deposits and postal exchanges of these notes for citizens. Rs 2000 notes remain legal tender.

The value of Rs 2000 notes still circulating in India stands at Rs 5,956 crore, over two years after the Reserve Bank's decision to withdraw them, according to figures shared on Monday. The RBI had announced this currency's phase-out on May 19, 2023.

Despite being withdrawn, Rs 2000 notes retain their status as legal tender. As noted by the central bank, their circulation value has dwindled significantly from Rs 3.56 lakh crore in May 2023 to Rs 5,956 crore by August 2025, with 98.33% of the banknotes returned.

Exchange facilities for Rs 2000 notes have been available at the RBI's 19 issue offices since May 2023. From October 2023, the bank accepts these notes for account deposits. Individuals can also utilize India Post services to send notes for bank credit.

(With inputs from agencies.)