The Transformation of Rs 2000 Notes in India

Rs 2000 banknotes valued at Rs 5,884 crore are still in circulation despite the RBI's withdrawal order on May 19, 2023. As of September 30, 2025, 98.35% of these notes have been returned. The public can deposit or exchange them at RBI issue offices or mail through India Post.

Despite the withdrawal announcement by the Reserve Bank of India (RBI) on May 19, 2023, Rs 2000 banknotes worth Rs 5,884 crore remain in circulation, as revealed by recent data.

Initially, the circulation value was Rs 3.56 lakh crore, but it has significantly reduced by over 98% by September 30, 2025. The notes remain legal tender for now.

Individuals can exchange or deposit these notes at any of the 19 RBI issue offices or via India Post, as the central bank expands its facilities to accommodate the remaining notes in public hands.

(With inputs from agencies.)