Where Are the ₹2,000 Notes? Only ₹5,817 Crore Still Circulating, RBI Reveals

The Reserve Bank of India (RBI) announced that ₹2,000 denomination banknotes worth ₹5,817 crore remain in circulation as of October 31, 2025. The figure reflects a significant decline from ₹3.56 lakh crore in circulation when the withdrawal was announced on May 19, 2023. According to the RBI, 98.37% of the ₹2,000 notes in circulation at that time have been returned.

The central bank clarified that despite the withdrawal, ₹2,000 banknotes continue to be legal tender, meaning they can still be used for transactions. The decline demonstrates widespread compliance and the effectiveness of the exchange and deposit facilities introduced by the RBI.

Withdrawal and Exchange Facility

The RBI announced the withdrawal of ₹2,000 notes from circulation in May 2023, emphasising that the move was part of its currency management strategy. Exchange facilities have been available at 19 RBI issue offices across the country since that date.

From October 9, 2023, individuals and entities have also been able to deposit ₹2,000 notes directly into their bank accounts through these offices. Additionally, the RBI enabled the use of India Post to send ₹2,000 banknotes from any post office in India to RBI issue offices for credit into bank accounts.

RBI Issue Office Network

The 19 issue offices facilitating these transactions are located in Ahmedabad, Bengaluru, Belapur, Bhopal, Bhubaneswar, Chandigarh, Chennai, Guwahati, Hyderabad, Jaipur, Jammu, Kanpur, Kolkata, Lucknow, Mumbai, Nagpur, New Delhi, Patna, and Thiruvananthapuram.

Also Read: Can You Sell Old Banknotes and Coins in India?

Conclusion

The near-complete return of ₹2,000 notes signals the success of RBI’s withdrawal plan and efficient currency transition, ensuring minimal disruption to the financial system.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.