₹2,000 Notes Almost Gone! RBI Says Only ₹5,817 Crore Still Out There
RBI says Rs. 2,000 notes are almost gone, with only Rs. 5,817 crore still in circulation across India
The Reserve Bank of India (RBI) has said that only Rs. 2,000 currency notes worth Rs. 5,817 crore are still in circulation across the country. This means that almost all Rs. 2,000 notes have now been returned to banks. The RBI had announced the withdrawal of Rs. 2,000 denomination notes from circulation on May 19, 2023. At that time, the total value of these notes in use was Rs....
The Reserve Bank of India (RBI) has said that only Rs. 2,000 currency notes worth Rs. 5,817 crore are still in circulation across the country. This means that almost all Rs. 2,000 notes have now been returned to banks.
The RBI had announced the withdrawal of Rs. 2,000 denomination notes from circulation on May 19, 2023. At that time, the total value of these notes in use was Rs. 3.56 lakh crore. As of October 31, 2025, the value has dropped to Rs. 5,817 crore. This shows that 98.37 percent of all Rs. 2,000 notes have been returned to the banking system.
Even though the Rs. 2,000 note has been withdrawn from circulation, it is still legal tender. People can continue to exchange or deposit these notes at 19 RBI issue offices located across India. These offices are in cities such as Mumbai, Delhi, Kolkata, Chennai, Bengaluru, Hyderabad, and others.
Since October 9, 2023, individuals and businesses have also been allowed to deposit Rs. 2,000 notes directly into their bank accounts at RBI offices. The public also can send their notes to any RBI issue office through India Post. The money will then be credited to their bank accounts.
The central bank said it regularly publishes updates on the progress of the withdrawal to keep the public informed.
The 2,000 rupees note was introduced in November 2016 after the government’s demonetisation move, which withdrew Rs. 500 and Rs. 1,000 notes from circulation. It was brought in to quickly replace the currency shortage at that time. However, in recent years, the RBI observed that the Rs. 2,000 note was not commonly used for daily transactions.
With almost all the Rs. 2,000 notes now returned, this marks one of the final stages of the note’s gradual phase-out from India’s cash system.
Support our journalism by subscribing to Taxscan premium. Follow us on Telegram for quick updates
