Despite being withdrawn more than a year ago, a significant number of Rs 2,000 notes are still out there. According to the latest data from the Reserve Bank of India (RBI), high-value notes worth Rs 5,817 crore remain in circulation. The central bank had announced the withdrawal of the Rs 2,000 denomination on May 19, 2023, but clarified that the notes continue to be legal tender, as reported by PTI.
The RBI said that the total value of Rs 2,000 notes in circulation has dropped sharply from Rs 3.56 lakh crore on May 19, 2023 — the day their withdrawal was announced — to just Rs 5,817 crore as of October 31, 2025. This means that around 98.37 per cent of all Rs 2,000 notes have been returned to the banking system, the central bank confirmed.
Since May 19, 2023, people have been able to exchange their Rs 2,000 notes at the RBI’s 19 issue offices. Later, from October 9, 2023, the RBI also allowed individuals and organisations to deposit these notes directly into their bank accounts at the same offices.
People can also send their Rs 2,000 notes to the RBI through India Post. From any post office in the country, the notes can be mailed to an RBI issue office to be credited directly to their bank account.
The RBI’s 19 issue offices are spread across major cities including Ahmedabad, Bengaluru, Mumbai, Delhi, Chennai, Kolkata, Hyderabad, Jaipur, Lucknow, and others. The central bank also said it regularly releases updates on the progress of the Rs 2,000 note withdrawal.
