Mumbai, March 1: The Reserve Bank has announced that 98.18% of the Rs 2000 banknotes have been returned to the banking system, leaving only Rs 6,471 crore still in public circulation.
On May 19, 2023, the Reserve Bank of India (RBI) declared the withdrawal of Rs 2000 denomination banknotes from circulation.
As of May 19, 2023, the total value of such banknotes in circulation was Rs 3.56 lakh crore, which has now decreased to Rs 6,471 crore as of February 28, 2025, according to RBI.
“Therefore, 98.18% of the Rs 2000 banknotes that were in circulation as of May 19, 2023, have been returned,” the RBI stated.
The option to deposit or exchange Rs 2000 banknotes was available at all bank branches until October 7, 2023, but this service continues at the 19 issue offices of the Reserve Bank.
Starting from October 9, 2023, RBI issue offices have also begun accepting Rs 2000 banknotes from individuals and entities for deposit into their accounts.
Moreover, members of the public can send Rs 2000 banknotes via India Post from any post office in the country to any of the RBI issue offices for credit to their bank accounts.
The Rs 2000 banknotes remain legal tender. (Agencies)
