The Reserve Bank of India (RBI) on Wednesday announced that 98.12 per cent of the Rs 2000 notes that were in circulation on May 19, 2023 have been returned into the banking system. As of December 31, 2024, only Rs 6,691 crore remains in Rs 2000 notes.
Decline in Rs 2000 notes circulation
According to the RBI, the total value of Rs 2000 notes in circulation as of May 19, 2023 is Rs 3.56 lakh crore. Since then, the circulation of these high-value notes has been significantly reduced, leaving only Rs 6,691 crore by the end of 2024.
Withdrawal process and current exchange facilities
RBI had announced withdrawal of Rs 2000 notes on May 19, 2023. There was permission to deposit or exchange Rs 2000 notes in all bank branches till October 7, 2023. However, the RBI continues to provide this service at 19 of its issue offices across the country, even after the deadline.
Deposit of Rs 2000 notes: Continued efforts of RBI
From October 9, 2023, individuals and institutions could deposit Rs 2000 notes at RBI issuing offices. Besides, citizens can send these documents through India Post from any post office to the offices provided by RBI for crediting in their bank accounts.
Legal tender status: Rs 2000 notes
Despite the demonetisation, the Rs 2000 notes remain legal tender, and people can still exchange or deposit them through available channels.
List of RBI offices accepting Rs 2000 notes
- Ahmedabad
- Bengaluru
- Belapur
- Bhopal
- Bhubaneswar
- Chandigarh
- Chennai
- Guwahati
- Hyderabad
- Jaipur
- Jammu
- Kanpur
- Kolkata
- Lucknow
- Mumbai
- Nagpur
- New Delhi
- Patna
- Thiruvananthapuram
The RBI’s update reassured the public that the withdrawal of Rs 2000 notes has proceeded smoothly, with minimal disruption to currency circulation.
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