The Reserve Bank of India (RBI) announced the withdrawal of ₹2000 denomination banknotes from circulation through a press release dated May 19, 2023. Since the announcement, RBI has periodically updated the public on the status of the withdrawal, with the latest update released on February 02, 2026. Initially, the facility for deposit or exchange of Rs. 2000 banknotes was available at all bank branches across the country until October 07, 2023. After that date, the exchange facility continues to be available at the 19 RBI Issue Offices. From October 09, 2023, these RBI Issue Offices also began accepting ₹2000 banknotes for deposit into bank accounts. Members of the public can additionally send these banknotes through India Post from any post office to RBI Issue Offices for credit to their accounts. The total value of ₹ 2000 banknotes in circulation has declined significantly from ₹3.56 lakh crore on May 19, 2023 to ₹5,551 crore as of February 28, 2026, indicating that 98.44% of the banknotes have been returned. However, ₹2000 notes continue to remain legal tender.
RESERVE BANK OF INDIA
Withdrawal of ₹2000 Denomination Banknotes – Status
The Reserve Bank of India (RBI) had announced the withdrawal of ₹2000 denomination banknotes from circulation vide Press Release 2023-2024/257 dated May 19, 2023. The status of withdrawal of ₹2000 banknotes is periodically published by the RBI. The last press release in this regard was published on February 02, 2026.
2. The facility for deposit and / or exchange of the ₹2000 banknotes was available at all bank branches in the country upto October 07, 2023.
3. The facility for exchange of the ₹2000 banknotes is available at the 19 Issue Offices of the Reserve Bank (RBI Issue Offices)1since May 19, 2023. From October 09, 2023, RBI Issue Offices are also accepting ₹2000 banknotes from individuals / entities for deposit into their bank accounts. Further, members of the public are sending ₹2000 banknotes through India Post from any post office within the country, to any of the RBI Issue Offices for credit to their bank accounts.
4. The total value of ₹2000 banknotes in circulation, which was ₹3.56 lakh crore at the close of business on May 19, 2023, when the withdrawal of ₹2000 banknotes was announced, has declined to ₹5,551 crore at the close of business on February 28, 2026. Thus, 98.44% of the ₹2000 banknotes in circulation as on May 19, 2023, has since been returned.
5. The ₹2000 banknotes continue to be legal tender.
(Brij Raj)
Chief General Manager
Press Release: 2025-2026/2204
Note:
1 Ahmedabad, Bangalore, Belapur, Bhopal, Bhubaneswar, Chandigarh, Chennai, Guwahati, Hyderabad, Jaipur, Jammu, Kanpur, Kolkata, Lucknow, Mumbai, Nagpur, New Delhi, Patna and Thiruvananthapuram
