The RBI had announced the withdrawal of ₹2,000 denomination banknotes from circulation on May 19, 2023. File
| Photo Credit: Reuters
The total value of ₹2,000 banknotes in circulation, which was ₹3.56 lakh crore at the close of business on May 19, 2023, when the withdrawal of ₹2,000 banknotes was announced, has declined to ₹7,581 crore at the close of business on June 28, 2024.
“Thus, 97.87% of the ₹2,000 banknotes in circulation as on May 19, 2023, has since been returned,” the Reserve Bank of India (RBI) reported on July 1. “The ₹2,000 banknotes continue to be legal tender,” it said.
The RBI had announced the withdrawal of ₹2,000 denomination banknotes from circulation on May 19, 2023.
The facility for deposit and / or exchange of the ₹2,000 banknotes was available at all bank branches in the country upto October 07, 2023.
The facility for exchange of the ₹2,000 banknotes is available at the 19 Issue Offices of the Reserve Bank (RBI Issue Offices)1 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 ₹2,000 banknotes through India Post from any post office within the country, to any of the RBI Issue Offices for credit to their bank accounts.