The Reserve Bank of India (RBI) announced on April 2, 2025, that 98.21% of Rs 2000 banknotes have been returned to the banking system, leaving only Rs 6,366 crore worth of such notes still with the public. This follows the RBI’s decision to withdraw Rs 2000 denomination banknotes from circulation, which was first announced on May 19, 2023.
The Rs 2000 banknote, introduced in November 2016 after demonetization, is gradually being phased out. Since the RBI’s withdrawal announcement, the circulation of these notes has declined significantly. While most of the currency has been deposited or exchanged, a small percentage still remains in the hands of the public.
Despite being withdrawn from circulation, Rs 2000 banknotes remain legal tender. This means that they are still recognized as valid currency for transactions, though their availability is extremely limited.
| Category | Details |
|---|---|
| Announcement Date | May 19, 2023 |
| Total Value on May 19, 2023 | Rs 3.56 lakh crore |
| Total Value on March 31, 2025 | Rs 6,366 crore |
| Percentage Returned | 98.21% |
| Deposit/Exchange Deadline | Bank branches till October 7, 2023 |
| Current Exchange Facility | Available at 19 RBI issue offices |
| India Post Facility | Rs 2000 notes can be sent to RBI offices |
| Legal Tender Status | Rs 2000 banknotes are still legal tender |
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