The Reserve Bank of India (RBI) has announced that as of October 31, 2025, Rs 2000 denomination banknotes worth Rs 5,817 crore remain in circulation- marking the return of 98.37% of the notes originally issued.
The Rs 2000 notes were withdrawn from circulation on May 19, 2023, when the total value in circulation stood at Rs 3.56 lakh crore. Since then, the RBI has periodically published updates on the status of their withdrawal, with the latest data released on October 1, 2025.
The facility for deposit or exchange of Rs 2000 notes at bank branches was available till October 7, 2023. However, the 19 RBI Issue Offices continue to accept these notes for exchange or credit into bank accounts. Members of the public can also send their Rs 2000 notes via India Post to any RBI Issue Office for direct credit to their bank accounts.
Importantly, the RBI clarified that Rs 2000 banknotes continue to be legal tender, meaning they remain valid for transactions and can be used to settle payments even though they are being phased out of circulation.
