RBI Consolidates Instructions on ₹2000 Note Withdrawal, Confirms Continued Legal Tender Status

The Reserve Bank of India (RBI), through Circular RBI/2026-27/107 dated June 09, 2026, consolidated all instructions relating to the withdrawal of ₹2000 denomination banknotes from circulation. The ₹2000 banknote was introduced in November 2016 under Section 24(1) of the RBI Act, 1934. In line with the RBI’s “Clean Note Policy,” a decision was taken on May 19, 2023, to withdraw these banknotes from circulation. The facility for exchange or deposit of ₹2000 notes through bank branches remained available until October 07, 2023. Since October 09, 2023, individuals and entities have been permitted to exchange or deposit these banknotes only at 19 designated RBI Issue Offices, and this arrangement will continue until further advice. The circular reiterates that ₹2000 denomination banknotes continue to be legal tender. It also consolidates earlier instructions on the subject and clarifies the status of previous notifications, identifying those that remain in force and those that have been withdrawn or are only partially applicable.

Reserve Bank of India

RBI/2026-27/107
DCM(Plg) No.S736/10.02.060/2026-27 | Dated: June 09, 2026

The Chairman / Managing Director / Chief Executive Officer
All Banks

Madam / Dear Sir,

Withdrawal of ₹2000 Denomination Banknotes from circulation: Consolidation of instructions

The ₹2000 denomination banknote was introduced in November 2016 under Section 24(1) of the RBI Act, 1934. Thereafter, in pursuance of the “Clean Note Policy” of the Reserve Bank of India, on May 19, 2023, it was decided to withdraw ₹2000 denomination banknotes from circulation.

2. Facility for exchange/ deposit of the ₹2000 denomination banknotes was extended to members of the public through bank branches across the country till October 07, 2023. Since October 09, 2023, the facility for exchange/ deposit of the ₹2000 banknotes is available for individuals / entities at the 19 RBI Issue Offices¹, and the same shall be available till further advice. ₹2000 denomination banknotes continue to be legal tender.

3. This consolidates the instructions issued earlier on the subject, as detailed hereunder².

Yours faithfully

(Sanjeev Prakash)
Chief General Manager-In-Charge

² Related notifications:

Note:

¹ Ahmedabad, Bangalore, Belapur, Bhopal, Bhubaneswar, Chandigarh, Chennai, Guwahati, Hyderabad, Jaipur, Jammu, Kanpur, Kolkata, Lucknow, Mumbai, Nagpur, New Delhi, Patna and Thiruvananthapuram