Rs 2000 notes Updates: The Reserve Bank of India (RBI) has reported a sharp decline in the circulation of ₹2000 denomination banknotes after they were announced for withdrawal earlier this year. As of September 30, 2025, the total value of these banknotes has dropped to ₹5,884 crore.
The Reserve Bank of India (RBI) has reported a sharp decline in the circulation of ₹2,000 denomination banknotes. As of September 30, 2025, the total value of these banknotes has declined to ₹5,884 crore. This represents a significant decline from ₹3.56 lakh crore at the time of the withdrawal announcement in May 2023.
2000 notes are still legal tender
Although these notes have been withdrawn from active circulation, ₹2000 banknotes retain their legal tender status. This means that while they are being removed from everyday transactions, they are still valid for repaying debts and settling other financial obligations.
Why were ₹2000 notes withdrawn?
The ₹2000 note was introduced to meet immediate currency needs following the demonetisation of ₹500 and ₹1000 notes in November 2016. According to the RBI, once this target was met and sufficient quantities of other denominations became available, printing of ₹2000 notes was discontinued in 2018-19.
Most of these notes were issued before March 2017 and are now reaching their estimated 4-5 year lifespan. Furthermore, these notes are not commonly used for transactions.
Facility to deposit or exchange notes
RBI has provided ample opportunities to the public to deposit or exchange these notes.
Facility at bank branches: The facility to deposit or exchange ₹2000 notes was available at all bank branches across the country till October 07, 2023.
Options at RBI offices: The Reserve Bank’s 19 issue offices have been offering exchange of these notes since May 19, 2023. Beginning October 9, 2023, these offices will also be accepting ₹2000 notes from individuals and institutions for deposit into their bank accounts.
Deposit through Post: Members of the public can send ₹2000 notes from any post office in the country through India Post to any Issue Office of RBI for deposit in their bank accounts.
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