The Reserve Bank of India announced that 98.47% of the Rs 2,000 denomination banknotes in circulation have been returned, nearly three years after their withdrawal was declared. Initially valued at Rs 3.56 lakh crore, the total worth of these notes has significantly dropped to Rs 5,451 crore as of April 30, 2026. The central bank stated that the majority of the Rs 2,000 banknotes from May 19, 2023, have now been returned.
The facility to exchange Rs 2,000 banknotes has been accessible at 19 RBI issue offices since the withdrawal announcement. Since October 9, 2023, these offices have also been accepting the notes for deposit into bank accounts. Individuals can still send Rs 2,000 banknotes through India Post from any post office in the country to RBI issue offices for crediting into their bank accounts.
Despite the withdrawal and return process, the Rs 2,000 banknotes remain legal tender, as clarified by the RBI.
