Synopsis: The Reserve Bank of India (RBI) has updated the status of ₹2000 banknote withdrawal. As of February 28, 2026, 98.44% of ₹2000 notes have been returned, with only Rs. 5,551 crore still in circulation. The ₹2000 banknotes continue to remain legal tender.
RBI Update on ₹2000 Banknote Withdrawal
The Reserve Bank of India (RBI) had announced the withdrawal of ₹2000 denomination banknotes from circulation through a press release dated May 19, 2023.
The RBI periodically publishes updates on the status of the withdrawal. The latest update was released on February 02, 2026.
Deposit and Exchange Facility Timeline
- The facility for deposit and exchange of ₹2000 banknotes was available at all bank branches across the country until October 07, 2023.
- The exchange facility continues to be available at the 19 RBI Issue Offices since May 19, 2023.
- From October 09, 2023, RBI Issue Offices began accepting ₹2000 banknotes for deposit into bank accounts.
- Members of the public can also send ₹2000 banknotes via India Post from any post office to RBI Issue Offices for credit to their bank accounts.
Sharp Decline in ₹2000 Notes in Circulation
At the time of the withdrawal announcement on May 19, 2023:
- Total value of ₹2000 banknotes in circulation stood at Rs. 3.56 lakh crore.
As of February 28, 2026:
- The value has declined to Rs. 5,551 crore.
- Approximately 98.44% of ₹2000 banknotes have been returned to the banking system.
₹2000 Notes Continue as Legal Tender
The RBI has clarified that ₹2000 banknotes continue to remain legal tender, meaning they are still valid for transactions.
List of RBI Issue Offices Accepting ₹2000 Notes
The 19 RBI Issue Offices are located in:
Ahmedabad, Bangalore, Belapur, Bhopal, Bhubaneswar, Chandigarh, Chennai, Guwahati, Hyderabad, Jaipur, Jammu, Kanpur, Kolkata, Lucknow, Mumbai, Nagpur, New Delhi, Patna, and Thiruvananthapuram.
📌 Key Takeaway
Since the withdrawal announcement in May 2023, 98.44% of ₹2000 banknotes have been returned. Only Rs. 5,551 crore remains in circulation as of February 28, 2026, while the notes continue to be legal tender.