Reserve Bank of India (RBI) has reported that 98.44% of Rs 2000 denomination banknotes have been returned since the withdrawal announcement made on May 19, 2023.
According to the latest update, the total value of Rs 2000 notes in circulation has sharply declined from Rs 3.56 lakh crore as on May 19, 2023, to Rs 5,551 crore as of February 28, 2026. The status was last published by the RBI on February 2, 2026.
While the facility for deposit and exchange at all bank branches was available until October 7, 2023, the exchange facility continues at 19 RBI Issue Offices across the country. These offices are also accepting Rs 2000 notes for deposit into bank accounts. Additionally, members of the public can send Rs 2000 notes through post offices to RBI Issue Offices for credit.
The RBI has clarified that Rs 2000 banknotes continue to remain legal tender.
