On May 19, 2023, the central bank declared the withdrawal of ₹2,000 denomination banknotes from circulation.
The overall value of ₹2000 banknotes in circulation, which amounted to ₹3.56 lakh crore at the end of the business day on May 19, 2023, when the currency withdrawal was announced, has decreased to ₹5,451 crore as of April 30, 2026.
“Consequently, 98.47% of the ₹2000 banknotes in circulation since May 19, 2023, have been returned,” stated the Reserve Bank in a release.
Since May 19, 2023, a service for exchanging ₹2,000 banknotes has been offered at the 19 issue offices of the Reserve Bank. Starting October 9, 2023, these offices will also accept ₹2,000 banknotes from individuals and entities for deposit into their bank accounts.
Furthermore, the public can send ₹2,000 banknotes via India Post from any post office in the country to any of the RBI issue offices for credit to their bank accounts, as mentioned by the RBI in a release.
The central bank reiterated that ₹2,000 banknotes remain legal tender.
(Edited by : Srabastee Biswas)
First Published: May 1, 2026 8:04 PM IST
