RBI News: Rs. 2000 Note Withdrawal Nears Completion: 98.39% Returned to Banks, Confirms RBI

RBI News: Rs. 2000 Note Withdrawal Nears Completion: 98.39% Returned to Banks, Confirms RBI

Reserve Bank of India (RBI) has released an updated status report on the withdrawal of ₹2000 denomination banknotes from circulation, confirming that almost the entire stock has now been returned.

The latest data, as published on December 1, 2025, shows that the value of ₹2000 notes in circulation has dropped sharply from ₹3.56 lakh crore on May 19, 2023 — the day the withdrawal was announced — to just ₹5,743 crore as of November 29, 2025. This means 98.39% of the banknotes have already been handed back through banks and RBI facilities.

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The facility to deposit or exchange ₹2000 notes at bank branches was available across the country until October 7, 2023.

Since then, the exchange service continues exclusively at the 19 Issue Offices of the RBI. From October 9, 2023, the RBI Issue Offices also allowed individuals and organizations to deposit these notes directly into their bank accounts.

Additionally, the public has been permitted to send ₹2000 banknotes through India Post from any post office nationwide for deposit via RBI Issue Offices.

Even with their phased removal from circulation, the RBI has clarified that ₹2000 denomination banknotes continue to be legal tender.

The withdrawal process was first announced through a press release on May 19, 2023, and the RBI has been periodically updating the progress of the exercise since then.