The Reserve Bank of India has confirmed that nearly all Rs 2,000 banknotes in circulation at the time of their withdrawal announcement have been returned to the banking system. According to RBI data, 98.41 percent of these high-value notes have been deposited since the central bank announced their withdrawal on May 19, 2023. At that time, Rs 2,000 notes worth Rs 3.56 lakh crore were in circulation. By December 31, 2025, the total value of these notes in circulation had dropped dramatically to just Rs 5,669 crore.
The RBI provided multiple channels for returning the notes. All bank branches across the country accepted deposits and exchanges until October 7, 2023. From October 9 onwards, the central bank’s 19 issue offices have continued to accept Rs 2,000 notes from individuals and businesses for deposit into bank accounts. Additionally, members of the public can send their Rs 2,000 notes via India Post from any post office directly to RBI issue offices for credit to their accounts. The RBI emphasized that despite the withdrawal, Rs 2,000 notes remain legal tender and can still be used for transactions across the country.
