Less than 3% Rs. 2000 Notes pending to be returned; RBI

The Reserve Bank of India (RBI) announced the withdrawal of Rs.2000 denomination banknotes from circulation on May 19, 2023, in Press Release. The RBI has published the withdrawal status of Rs.2000 banknotes on a regular basis.

Deposit and/or exchange of the Rs.2000 banknotes was initially allowed at all branches of banks in the country until September 30, 2023, and was then extended till October 7, 2023.

From May 19, 2023, the facility for exchanging Rs.2000 banknotes was also available at the Reserve Bank’s 19 Issue Offices (RBI Issue Offices). From October 9, 2023, RBI Issue Offices will accept Rs.2000 denomination banknotes for deposit to individuals/entities’ bank accounts in addition to dealing them across counters.

Furthermore, members of the public from within the country can submit Rs.2000 banknotes to any of the RBI Issue Offices by India Post from any post office in the country for credit to their bank accounts in India.

The entire value of Rs.2000 banknotes in circulation has decreased from Rs.3.56 lakh crore at the closure of business on May 19, 2023, when the withdrawal of Rs.2000 banknotes was announced, to Rs.9.760 crore at the closure of business on November 30, 2023. Thus, as of May 19, 2023, 97.26% of the Rs.2000 banknotes in circulation have been returned.

The Rs.2000 banknotes remain legal tender.