In May 2023, the Reserve Bank of India (RBI) announced the gradual withdrawal of ₹2,000 notes.
Despite this, over ₹6,000 crore worth of these notes are still with the public, even more than two years later.
According to the RBI, 98.37% of the ₹2,000 notes issued by October 31, 2025, have been returned, but many people continue to hold them at home or in businesses, causing confusion.
Are ₹2,000 Notes Still Valid?
Yes, ₹2,000 notes remain legal tender.
They have not expired and can still be used.
However, most shops and bank branches no longer accept them in everyday transactions.
The printing of ₹2,000 notes was discontinued after the 2018-19 financial year because they are rarely used in daily transactions.
This move is part of the RBI’s Clean Note Policy, aimed at removing old and less commonly used notes from circulation.
How to Exchange or Deposit ₹2,000 Notes
The facility to exchange or deposit ₹2,000 notes at commercial banks was discontinued after October 7, 2023. Now, deposits or exchanges are only possible at 19 RBI issue offices across India.
These offices are located in cities like Ahmedabad, Bengaluru, Hyderabad, Jaipur, Kanpur, Lucknow, Kolkata, Mumbai, Patna, New Delhi, and Chennai.
To deposit the notes, individuals must visit the RBI office in person and fill out a prescribed form. Identity proof, such as an Aadhar card, and bank account details are required for direct deposit.
RBI Appeals to the Public
Many people are hesitant to deposit ₹2,000 notes due to fear of losing their value.
The RBI has clarified that the notes are completely valid and urged the public not to believe rumors.
Citizens are encouraged to visit the nearest RBI issue office as soon as possible to deposit remaining notes safely into their accounts.
