Despite the withdrawal of Rs 2,000 denomination notes more than two years ago, currency worth Rs 5,817 crore remains in circulation.
The central bank had announced the withdrawal of Rs 2,000 banknotes from circulation on May 19, 2023, though the notes continue to remain legal tender.
The facility for exchanging Rs 2,000 notes has been available at the RBI’s 19 issue offices since the withdrawal announcement.
Despite the withdrawal of Rs 2,000 denomination notes more than two years ago, currency worth Rs 5,817 crore remains in circulation, according to the latest data released by the Reserve Bank of India (RBI) on Saturday.
The central bank had announced the withdrawal of Rs 2,000 banknotes from circulation on May 19, 2023, though the notes continue to remain legal tender.
In its statement, the RBI said the total value of Rs 2,000 notes in circulation had dropped sharply, from Rs 3.56 lakh crore as of May 19, 2023, to Rs 5,817 crore as of October 31, 2025.
“Thus, 98.37 per cent of the Rs 2,000 banknotes in circulation as on May 19, 2023, has since been returned,” the central bank stated.
The facility for exchanging Rs 2,000 notes has been available at the RBI’s 19 issue offices since the withdrawal announcement. Beginning October 9, 2023, these offices also started accepting Rs 2,000 notes from individuals and entities for direct deposit into their bank accounts.
Additionally, members of the public can send Rs 2,000 notes via India Post from any post office across the country to any of the RBI’s issue offices for credit to their bank accounts.
The RBI’s issue offices are located in Ahmedabad, Bengaluru, Belapur, Bhopal, Bhubaneswar, Chandigarh, Chennai, Guwahati, Hyderabad, Jaipur, Jammu, Kanpur, Kolkata, Lucknow, Mumbai, Nagpur, New Delhi, Patna, and Thiruvananthapuram.
The central bank said it would continue to publish periodic updates on the status of the withdrawal of the Rs 2,000 banknotes.
With PTI inputs
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