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₹2000 Note Withdrawal: 98.44% Returned, Only ₹5,551 Crore Remains in Circulation, Says RBI

The RBI has released its latest update on the ₹2000 note withdrawal. As of February 28, 2026, 98.44% of the notes have returned. The notes remain legal tender and can still be exchanged at RBI offices.
₹2000 Note Withdrawal: 98.44% Returned, Only ₹5,551 Crore Remains in Circulation, Says RBI

Mumbai: The Reserve Bank of India (RBI) today released the latest status update on the withdrawal of ₹2000 denomination banknotes, revealing that the vast majority of the currency has been returned to the banking system.

According to the press release, the total value of ₹2000 banknotes in circulation has plummeted to just ₹5,551 crore as of the close of business on February 28, 2026. This marks a dramatic decline from the ₹3.56 lakh crore in circulation on May 19, 2023, the day the withdrawal was first announced.

Key Milestone: 98.44% Returned

The data indicates that 98.44% of the ₹2000 banknotes in circulation at the time of the announcement have since been returned to the Reserve Bank. This figure underscores the effectiveness of the multi-channel approach adopted by the RBI to facilitate the return of the high-denomination notes.

 

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Where Can You Exchange or Deposit ₹2000 Notes?

The RBI reiterated the facilities available for the public to handle any remaining ₹2000 banknotes:

  • Bank Branch Deposits (Closed): The initial facility for deposit and exchange at all bank branches across the country was available until October 7, 2023.

  • RBI Issue Offices (Ongoing): Since May 19, 2023, the public can exchange ₹2000 notes at the 19 Issue Offices of the RBI.

  • Direct Deposit at RBI: From October 9, 2023, these same RBI offices have also been accepting the notes for direct deposit into individuals' or entities' bank accounts.

  • India Post Service: In a move to enhance accessibility, members of the public can send ₹2000 banknotes through India Post from any post office within the country to any of the RBI Issue Offices for credit to their bank accounts.

Important: Still Legal Tender

Crucially, the RBI has clarified that despite the withdrawal from circulation, ₹2000 banknotes continue to be legal tender. This means they are still valid currency, though they must now be exchanged or deposited at the designated RBI offices rather than regular bank branches.

 

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List of RBI Issue Offices accepting ₹2000 notes:
Ahmedabad, Bangalore, Belapur, Bhopal, Bhubaneswar, Chandigarh, Chennai, Guwahati, Hyderabad, Jaipur, Jammu, Kanpur, Kolkata, Lucknow, Mumbai, Nagpur, New Delhi, Patna and Thiruvananthapuram.

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