The Rs 2000 notes were officially withdrawn from circulation on May 19, 2023. However, the RBI has confirmed that these notes are still legal tender, meaning they can still be used for transactions.
What the Numbers Say
When the RBI made the announcement in 2023, Rs 2000 notes worth Rs 3.56 lakh crore were in circulation. As of May 31, 2025, that figure has dropped sharply to just Rs 6,181 crore. This means 98.26% of the notes have already been returned to the banking system.
How Can You Still Exchange Them?
While the facility to deposit or exchange Rs 2000 notes at regular bank branches ended on October 7, 2023, the RBI is still accepting them at its 19 issue offices across India.
Since October 9, 2023, individuals and businesses have also been allowed to send Rs 2000 notes via India Post to any of these RBI offices. The money will then be deposited into their bank accounts.
Key Points to Remember:
- Rs 2000 notes are still legal tender.
- Most of them have been returned, but Rs 6,181 crore worth of notes are still out there.
- You can visit an RBI issue office or send notes by post to get them deposited.
Content Source: economictimes.indiatimes.com