As of May 31, 2025, ₹2,000 denomination banknotes worth ₹6,181 crore are still in circulation, nearly two years after the Reserve Bank of India (RBI) announced their withdrawal from the banking system. Despite the note’s withdrawal from active circulation, the central bank has clarified that the ₹2,000 note continues to be legal tender.

The update was provided by the RBI on June 2, 2025, through an official statement summarising the progress of the note’s withdrawal. According to the RBI, 98.26 percent of the ₹2,000 notes in circulation as of May 19, 2023, have been successfully returned.

When the withdrawal was announced on May 19, 2023, the total value of ₹2,000 notes in circulation stood at ₹3.56 lakh crore. This figure has now drastically reduced to ₹6,181 crore as per the latest available data.

The RBI reiterated that the note remains valid for transactions, even though it is no longer actively printed or distributed. The central bank had earlier provided a window till October 7, 2023, for the public to exchange or deposit the notes at any commercial bank branch.

After the end of this window, the RBI has continued to provide facilities for deposit and exchange at its 19 issue offices across India. These offices are accepting the ₹2,000 banknotes from individuals and entities for deposit into their respective bank accounts.

Additionally, the RBI has also enabled a postal facility since October 9, 2023, whereby individuals can send their ₹2,000 notes via India Post from any post office in the country to one of the RBI issue offices. The amount is then credited to their bank accounts, making the process accessible even for those not located near an RBI office.

The central bank’s data shows that a majority of the ₹2,000 notes have been returned voluntarily by the public, confirming widespread compliance with the directive. However, the remaining ₹6,181 crore worth of notes still in circulation indicate either unawareness, hoarding, or loss of access to exchange facilities for a section of the population.

The ₹2,000 note was first introduced in November 2016, shortly after the demonetisation of ₹500 and ₹1,000 notes. Its aim was to meet the immediate currency demand and support the transition during the initial stages of remonetisation. Over time, however, the RBI reduced the printing of ₹2,000 notes, eventually stopping new issuance, citing the note's limited use in daily transactions and a shift toward smaller denominations and digital payments.

In its statement, the RBI emphasised its commitment to ensuring a smooth and inclusive process for the return of the high-denomination notes. The central bank continues to appeal to citizens holding onto the currency to make use of the available facilities.

While no new ₹2,000 notes have been issued in recent years, the notes that remain in circulation continue to hold value, and citizens are encouraged to either use them or deposit them into their accounts to avoid inconvenience.

The RBI also advised the public to stay informed through official notifications, avoid misleading messages about demonetisation or currency invalidation, and utilise the India Post route or direct RBI office submission if unable to visit commercial bank branches.

As India’s currency ecosystem increasingly shifts towards digital transactions and lower denominations, the gradual phasing out of ₹2,000 notes appears aligned with the RBI’s broader goal of promoting a cleaner and more efficient currency structure. The remaining ₹6,181 crore in circulation, although small in comparison to the original issuance, continues to be closely monitored.

The RBI is expected to provide further updates on the note’s status and residual circulation in its upcoming bulletins. In the meantime, the facility to deposit or send ₹2,000 notes remains available for all eligible citizens across the country.

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