Key Highlights:
- ₹2000 notes withdrawn from circulation on May 19, 2023.
- 98.35% of notes returned to RBI by September 30, 2025.
- ₹2000 notes remain legal tender and can still be exchanged at RBI offices.
₹2000 Banknote Withdrawal Update: 98% Returned, Notes Still Legal Tender
Press Release: RBI | September 30, 2025
The Reserve Bank of India (RBI) announced the withdrawal of ₹2000 denomination banknotes
from circulation on May 19, 2023. Periodic updates on the withdrawal status have since
been published, with the latest release dated September 1, 2025.
Deposit & Exchange Facilities
The facility for deposit and exchange of ₹2000 notes at bank branches was available until
October 7, 2023. Since May 19, 2023, exchange facilities remain available at
19 RBI Issue Offices across India.
From October 9, 2023, individuals and entities can also deposit ₹2000 notes directly
into their bank accounts at RBI Issue Offices. Additionally, the public can send notes via
India Post from any post office for credit to their accounts at RBI Issue Offices.
Status of Returned Notes
At the time of the withdrawal announcement on May 19, 2023, ₹2000 notes in circulation
were valued at ₹3.56 lakh crore. As of September 30, 2025, the value has
declined to just ₹5,884 crore.
This means that 98.35% of the ₹2000 notes have already been returned to the system.
Legal Tender Status
Despite the withdrawal, the RBI has clarified that ₹2000 banknotes continue to be legal tender.
They can still be exchanged or deposited through RBI Issue Offices and India Post facilities.
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