RBI Withdraws 98% of Rs 2,000 Notes from Circulation
The Reserve Bank of India announced that 98.44% of the Rs 2,000 banknotes have been returned following their withdrawal from circulation in May 2023. Despite removal from circulation, the notes are still legal tender. Multiple facilities exist for exchanging or depositing these notes, including RBI offices and India Post.
- Country:
- India
The Reserve Bank of India (RBI) has reported that a staggering 98.44% of the Rs 2,000 banknotes have been returned after their withdrawal was declared on May 19, 2023.
The total value of these notes has dramatically fallen from Rs 3.56 lakh crore in May 2023 to Rs 5,551 crore by February 28, 2026. Despite the withdrawal, Rs 2,000 notes remain legal tender, providing flexibility and confidence in their use.
Individuals can exchange or deposit Rs 2,000 banknotes at any of the RBI's 19 issue offices or send them via India Post to an RBI office for bank account deposits.
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