Around 98% ₹2000 Banknotes Returned; ₹6,970Cr Worth Notes Still In Circulation

Mumbai, Nov 5: The Reserve Bank of India (RBI) had announced the withdrawal of ₹2000 denomination banknotes from circulation.

The facility for exchange of the ₹2000 banknotes is available at the 19 Issue Offices of the Reserve Bank since May 19, 2023. From October 09, 2023, RBI Issue Offices are also accepting ₹2000 banknotes from individuals / entities for deposit into their bank accounts.

Further, members of the public are sending ₹2000 banknotes through India Post from any post office within the country, to any of the RBI Issue Offices for credit to their bank accounts.

The total value of ₹2000 banknotes in circulation, which was ₹3.56 lakh crore at the close of business on May 19, 2023, when the withdrawal of ₹2000 banknotes was announced, has declined to ₹6970 crore at the close of business on October 31, 2024. Thus, 98.04% of the ₹2000 banknotes in circulation as on May 19, 2023, has since been returned.

The facility for deposit and / or exchange of the ₹2000 banknotes was available at all bank branches in the country upto October 07, 2023. The ₹2000 banknotes continue to be legal tender.