New Delhi, June 2: The Reserve Bank of India (RBI) on Monday provided an update on the withdrawal of ₹2000 denomination banknotes, initially announced on May 19, 2023. According to the RBI, 98.26% of these notes have been returned to the banking system.
At the time of the announcement, ₹2000 notes worth ₹3.56 lakh crore were in circulation. As of the close of business on May 31, 2025, that figure has drastically declined to just ₹6,181 crore.
The RBI confirmed that since May 19, 2023, individuals have been able to exchange ₹2000 notes at its 19 designated Issue Offices across the country. From October 9, 2023, these offices also began accepting ₹2000 notes for direct deposit into bank accounts.
The 19 RBI Issue Offices are located in: Ahmedabad, Bangalore, Belapur, Bhopal, Bhubaneswar, Chandigarh, Chennai, Guwahati, Hyderabad, Jaipur, Jammu, Kanpur, Kolkata, Lucknow, Mumbai, Nagpur, New Delhi, Patna, and Thiruvananthapuram.
Additionally, the public can send ₹2000 banknotes via India Post from any post office to these RBI Issue Offices for deposit into their bank accounts.
The central bank reiterated that ₹2000 banknotes remain legal tender.
The ₹2000 denomination was introduced in November 2016 to quickly replenish currency supply following the demonetisation of ₹500 and ₹1000 notes. Once sufficient quantities of other denominations were in circulation, the printing of ₹2000 notes was discontinued in 2018–19.
