RBI | 97.38% of Rs 2000 Banknotes Returned Since Withdrawal Announcement



Quick Summary
The Reserve Bank of India (RBI) has announced that a significant 97.38% of the ₹2000 banknotes in circulation have been returned since the withdrawal announcement on May 19, 2023. As of December 29, 2023, only ₹9,330 crore worth of these notes remain outside the banking system. While exchange facilities at bank branches closed on October 7, 2023, individuals can still exchange or deposit their ₹2000 notes at RBI Issue Offices or send them via India Post.

The Reserve Bank of India (RBI) had announced the withdrawal of ₹2000 denomination banknotes from circulation videPress Release 2023-2024/257 dated May 19, 2023. The status of withdrawal of ₹2000 banknotes is periodically published by the RBI. The last press release in this regard was published onDecember 01, 2023. 2. The facility for deposit and / or exchange of the ₹2000 banknotes was available at all bank branches in the country upto October 07, 2023. 3. The facility for exchange of
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1 Year PLAN
1999
(Excl. of GST ₹359)

2 Years PLAN
3499
(Excl. of GST ₹629)

BEST VALUE
3 Years PLAN
4999
(Excl. of GST ₹899)

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FAQ :

As of December 29, 2023, 97.38% of the Rs 2000 banknotes that were in circulation have been returned. The remaining value in circulation is Rs 9,330 crore.

The withdrawal of Rs 2000 banknotes from circulation was announced by the RBI on May 19, 2023.

You can deposit or exchange Rs 2000 banknotes at any of the 19 RBI Issue Offices. Individuals can also send them via India Post to any RBI Issue Office for credit to their bank accounts.

Yes, the Rs 2000 banknotes continue to be legal tender.

No, the facility for exchanging Rs 2000 banknotes at all bank branches across the country was available only until October 7, 2023.




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Finance news reporter covering taxation, GST, income tax, business compliance, and economy updates. I simplify complex financial topics into easy-to-understand articles for professionals, taxpayers, and business owners on leading finance and tax platforms.

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