Summary of this article
RBI confirms 98 percent of Rs 2000 notes returned
Rs 5,956 crore of high value notes remain unreturned
Notes valid, return via RBI offices or India Post
The Reserve Bank of India (RBI) has reported that almost all of the Rs 2000 currency notes have been deposited following the announcement of their withdrawal in May 2023. According to the central bank, Rs 5,956 crore worth of notes remain in circulation up to August 31, 2025. These notes account for only 1.67 percent of the Rs 3.56 lakh crore in circulation when the process of withdrawal began.
Notes Still Legal Tender
The Rs 2000 note, introduced in 2016 after demonetisation, is still legal tender. This means that it is still acceptable for use in transactions, although it can no longer be exchanged through banks over the counter. Withdrawal was meant to discourage the circulation of high-value currency, encourage transactions online, and prevent hoarding.
How To Return Rs 2000 Notes
The option of exchanging or depositing Rs 2000 notes at regular bank branches ended on October 7, 2023. However, those who still have these notes can do the following:
They can exchange or deposit them at any of the 19 RBI Issue Offices located across the country, which are situated in cities like Mumbai, Delhi, Kolkata, Chennai, and Hyderabad.
The notes can also be dispatched by India Post from any post office to an RBI Issue Office. The amount is credited directly into their bank account.
The notes are still valid to use in a transaction, as they are legal tender, but fewer people now accept them because of their limited circulation.
What The Numbers Show
At the time of withdrawal announcement on May 19, 2023, Rs 2000 denomination of Rs 3.56 lakh crore was in circulation. By August 2025, the amount reduced to Rs 5,956 crore. In percentage terms, 98.33 per cent of the total has been brought back into the system.
The numbers show that phasing out the denomination has been very effective. The remaining notes could be held by individuals who have missed the cutoff time at the banks, individuals who are using them in remote regions, or individuals who are unaware of the process to return them.
Public Response And Impact
The majority of the people had already exchanged or credited their notes even before the 2023 deadline. For home and commercial consumers, the withdrawal caused some early rush in banks and postal outlets, but the longer facility at RBI centres and India Post eased the process.
The Rs 2000 note was released as an emergency replacement currency in 2016 to meet cash shortages post-demonetisation of Rs 1000 and Rs 500 currency. Over a period, RBI restricted printing of the denomination and encouraged use of lower denomination currency and electronic payment.
What To Do If You Still Have Rs 2000 Notes
If you still have any Rs 2000 notes, you can either:
Take them to your local RBI Issue Office and credit them to your account, or
Send them by registered mail from India Post to an RBI office for credit to your bank account.
RBI has also clarified that there is no last date for return of the notes to its Issue Offices or by India Post.
