RBI confirms ₹6,181 crore worth ₹2,000 notes remain in circulation after withdrawal

NOOR MOHMMED

05/Jun/2025

RBI states 98.26% of ₹2,000 notes in circulation as of May 2023 have been returned, leaving ₹6,181 crore still active.
₹2,000 notes remain legal tender, with deposit and exchange available at RBI issue offices and via India Post.
Facility for exchange at bank branches ended October 2023, but RBI offices continue accepting ₹2,000 notes for deposit.

The Reserve Bank of India (RBI) has disclosed that ₹6,181 crore worth of ₹2,000 banknotes are still in circulation nearly two years after the currency was officially withdrawn. The withdrawal announcement was made on May 19, 2023, when RBI stated that ₹2,000 denomination notes would no longer be issued and urged the public to return the notes.

At the time of the announcement, the total value of ₹2,000 notes in circulation was approximately ₹3.56 lakh crore. As of May 31, 2025, this figure had declined significantly to ₹6,181 crore, indicating that 98.26% of these high-value notes have been returned to the central bank.

The RBI reaffirmed that the ₹2,000 banknotes continue to be legal tender, meaning they can still be used for transactions.

Initially, RBI provided the facility for deposit and/or exchange of ₹2,000 notes at all bank branches until October 7, 2023. However, this facility was later restricted and is now available only at 19 issue offices of the RBI across the country.

Since October 9, 2023, RBI issue offices have also been accepting ₹2,000 banknotes from individuals and entities for direct deposit into their bank accounts, ensuring a smooth and secure return process.

Furthermore, people can send ₹2,000 notes through India Post from any post office in India to any RBI issue office, where the amount will be credited to their bank accounts.

This ongoing process highlights the RBI’s continued efforts to manage currency circulation efficiently while facilitating the exchange and deposit of withdrawn banknotes.

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RBI confirms ₹6,181 crore worth ₹2,000 notes remain in circulation after withdrawal

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