News Details

( As on 02/02/2026 18:47)

Reserve Bank of India says 98.42% of Rs 2,000 notes returned to system

The Reserve Bank of India has said that 98.42 per cent of Rs 2,000 denomination banknotes have been returned to the banking system since their withdrawal from circulation was announced in May 2023.

According to the central bank, the total value of Rs 2,000 notes in circulation has sharply declined to Rs 5,609 crore as of January 31, 2026, from Rs 3.56 lakh crore at the time of the withdrawal announcement on May 19, 2023.

While the facility to deposit or exchange Rs 2,000 notes at all bank branches ended on October 7, 2023, the exchange facility continues to be available at 19 RBI Issue Offices. Individuals and entities can also deposit the notes directly into their bank accounts through these offices or send them via India Post for credit.

The RBI clarified that Rs 2,000 banknotes remain legal tender despite their withdrawal from active circulation.