Summary: The Reserve Bank of India (RBI), in its latest press release dated May 1, 2026, provided an updated status on the withdrawal of ₹2000 denomination banknotes. Since the withdrawal announcement in May 2023, the total value of such notes in circulation has sharply declined from ₹3.56 lakh crore to ₹5,451 crore as of April 30, 2026, reflecting that 98.47% of the notes have been returned. While deposit and exchange facilities at bank branches ended on October 7, 2023, individuals and entities can still exchange or deposit ₹2000 notes through RBI Issue Offices or by sending them via post. Importantly, the RBI clarified that ₹2000 banknotes continue to remain legal tender. The update highlights the significant success of the withdrawal process, ensuring minimal disruption while maintaining flexibility for the public to deposit or exchange remaining notes through designated RBI channels.
Reserve Bank of India
Press Releases Date : May 01, 2026
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 April 01, 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)1 since 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 ₹5,451 crore at the close of business on April 30, 2026. Thus, 98.47% 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: 2026-2027/190
Notes:
1 Ahmedabad, Bangalore, Belapur, Bhopal, Bhubaneswar, Chandigarh, Chennai, Guwahati, Hyderabad, Jaipur, Jammu, Kanpur, Kolkata, Lucknow, Mumbai, Nagpur, New Delhi, Patna and Thiruvananthapuram
