Over Rs 6,000 crore in Rs 2000 notes remain

Mumbai

As of April 30, 2025, Rs 6,266 crore worth of Rs 2000 notes are still in circulation, despite the Reserve Bank of India (RBI) announcing their withdrawal two years ago. These notes remain legal tender, and the RBI has made arrangements for people to deposit or exchange them.

When the RBI first announced the withdrawal on May 19, 2023, Rs 3.56 lakh crore worth of Rs 2000 notes were in circulation. By the end of April 2025, about 98.24% of these notes had been returned, leaving a balance of Rs 6,266 crore still circulating.

The RBI initially allowed people to exchange or deposit these notes at bank branches until October 7, 2023. Since that date, the facility has remained available at 19 RBI issue offices, where individuals and businesses can still deposit these high-value notes into their bank accounts. In addition, people can send Rs 2000 notes through India Post from any post office to one of the RBI issue offices for credit into their bank accounts.

This extended facility for exchanging and depositing Rs 2000 notes aims to make the withdrawal process smooth and convenient for the public. The RBI has been working to ensure that the currency transition does not cause inconvenience to people, giving them enough time to manage their holdings of the Rs 2000 notes.

The RBI’s efforts are part of its ongoing initiative to gradually phase out high-value notes while allowing people to complete the exchange process without any difficulty. The continued availability of deposit and exchange facilities is meant to ease the transition and maintain financial stability.