98% of Rs 2,000 banknotes returned: RBI -OxBig News Network

The Reserve Bank on Saturday said 98.18 per cent of the Rs 2,000 banknotes had been returned to the banking system, and only Rs 6,471 crore worth such notes are still with the public.

On May 19, 2023, the Reserve Bank of India (RBI) announced the withdrawal of Rs 2,000 denomination banknotes from circulation. The total value of Rs 2,000 banknotes in circulation, which was Rs 3.56 lakh crore at the close of business on May 19, 2023, declined to Rs 6,471 crore at the close of business on February 28, 2025, the RBI said.

“Thus, 98.18 per cent of the Rs 2,000 banknotes in circulation as on May 19, 2023, has since been returned,” it said in a statement.

The facility for deposit and/or exchange of the Rs 2000 banknotes was available at all bank branches till October 7, 2023. However, this facility is still available at the 19 issue offices of the Reserve Bank.

Since October 9, 2023, the RBI issue offices are also accepting Rs 2,000 banknotes from individuals and entities for deposit into their bank accounts.

Further, members of the public can also send Rs 2,000 banknotes through India Post from any post office within the country to any of the RBI issue offices for credit to their bank accounts. The Rs 2,000 banknotes continue to be legal tender.