RBI Announces Successful Withdrawal of Rs 2000 Notes with 98.41% Returned

The Reserve Bank of India reported that 98.41% of Rs 2000 banknotes in circulation were returned. Initially worth Rs 3.56 lakh crore in May 2023, their value plummeted to Rs 5,669 crore by December 2025. Legal tender status remains, with deposit options through banks and post offices.

The Reserve Bank of India (RBI) has announced a significant milestone in the withdrawal of Rs 2000 banknotes, with 98.41% of such notes returned to the central bank. This marks a notable decrease in the amount of high-value currency in circulation since the withdrawal initiative began on May 19, 2023.

At the announcement's onset, a staggering Rs 3.56 lakh crore worth of Rs 2000 notes were circulating. By the close of business on December 31, 2025, this figure had declined steeply to Rs 5,669 crore, demonstrating the public response to the RBI's call for withdrawal.

Opportunities to deposit or exchange these notes were available at bank branches nationwide until October 7, 2023. Further, since October 9, 2023, individuals could make deposits via RBI's 19 Issue Offices. The RBI assures that Rs 2000 notes continue to be legal tender, allowing deposits via India Post to remain available.

(With inputs from agencies.)