The Reserve Bank of India has released an updated status on the withdrawal of ₹2000 denomination banknotes, originally announced on May 19, 2023. While the facility to deposit or exchange ₹2000 notes at bank branches was available only up to October 7, 2023, the RBI has continued to provide exchange and deposit facilities through its 19 Issue Offices across the country. From October 9, 2023, these offices have also been accepting ₹2000 notes for direct credit into bank accounts, including through India Post from any post office nationwide. As per the latest data, the value of ₹2000 banknotes in circulation has sharply declined from ₹3.56 lakh crore in May 2023 to ₹5,669 crore as of December 31, 2025, indicating that 98.41% of the withdrawn notes have been returned to the banking system. Importantly, the RBI has reiterated that ₹2000 banknotes 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 December 01, 2025.
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 ₹5,669 crore at the close of business on December 31, 2025. Thus, 98.41% 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: 2025-2026/1826
Notes:
1 Ahmedabad, Bangalore, Belapur, Bhopal, Bhubaneswar, Chandigarh, Chennai, Guwahati, Hyderabad, Jaipur, Jammu, Kanpur, Kolkata, Lucknow, Mumbai, Nagpur, New Delhi, Patna and Thiruvananthapuram
