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The Reserve Bank of India (RBI) has provided an update on the withdrawal of ₹2000 denomination banknotes, revealing that as of February 28, 2025, only ₹6,471 crore worth of these notes remain in circulation. This marks a significant decline from the ₹3.56 lakh crore in circulation when the withdrawal was first announced on May 19, 2023, with 98.18% of the notes now returned. Official copy of the notification is as follows The Reserve Bank of India (RBI) had announced the withdrawal of ₹2000
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FAQ :
As of February 28, 2025, 98.18% of the £2000 banknotes have been returned, with only £6,471 crore still in circulation.
The withdrawal of £2000 denomination banknotes was announced by the RBI on May 19, 2023.
When the withdrawal was announced on May 19, 2023, the total value of £2000 banknotes in circulation was £3.56 lakh crore.
The facility for deposit and/or exchange was available at all bank branches until October 7, 2023. Currently, exchange is available at the 19 RBI Issue Offices, and notes can be sent via India Post to RBI Issue Offices for credit to bank accounts.
Yes, the £2000 banknotes continue to be legal tender.
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