Key Highlights
- Despite the withdrawal of Rs 2,000 notes in May 2023, ₹6,181 crore worth remain in circulation as of May 31, 2025.
- The RBI continues to accept these notes at its 19 issue offices and via India Post, ensuring they remain legal tender and facilitating their return.
Official Reserve Bank of India data released on Monday showed that 2000-rupee notes worth Rs 6,181 crore were still in circulation after two years of withdrawal.
"Thus, 98.26% of the Rs 2000 banknotes in circulation as on May 19, 2023, has since been returned," the Reserve Bank of India reported.
The RBI announced the withdrawal of Rs 2000 banknotes from circulation on May 19, 2023. Since then, their presence in the economy has declined sharply, from Rs 3.56 lakh crore in circulation on the day of the announcement to just Rs 6,181 crore as of May 31, 2025, according to the RBI.
However, they remain legal tender.
The option to deposit or exchange Rs 2000 banknotes at bank branches remained available until October 7, 2023. After that date, the facility is only accessible at the Reserve Bank's 19 issue offices.
Also Read: E-Rupee Circulation Tops Rs 1,000 Cr; RBI Eyes Cross-Border CBDC Pilots
Since October 9, 2023, RBI issue offices have accepted Rs 2000 banknotes from individuals and entities for direct deposit into their bank accounts. Furthermore, people can mail Rs 2000 notes from any post office in India to an RBI issue office to have the amount credited to their accounts.
