RBI says 98.44% of withdrawn Rs 2,000 banknotes returned

The Reserve Bank of India (RBI) on Monday said 98.44 per cent of the Rs 2,000 banknotes in circulation have been returned. The central bank announced the withdrawal of Rs 2,000 denomination banknotes from circulation on May 19, 2023. The total value of Rs 2,000 banknotes in circulation has declined to Rs 5,551 crore at the close of business on February 28, 2026, from Rs 3.56 lakh crore at the close of business on May 19, 2023, when the central bank announced withdrawal of Rs 2000 banknotes, the release said. A facility for exchanging Rs 2000 banknotes is available at the 19 issue offices of the Reserve Bank (RBI Issue Offices) since May 19, 2023. From October 9, 2023, RBI issue offices also accept Rs 2,000 banknotes from individuals/entities for deposit into their bank accounts.

Additionally, members of the public are sending Rs 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, the RBI said in a release. The central bank further said Rs 2,000 banknotes continue to be legal tender.