The Reserve Bank of India (RBI) recently released a report on the status of the Rs 2000 banknotes. As of May 19, 2023, the total value of Rs 2000 banknotes in circulation was Rs 3.56 lakh crore.
However, by May 31, 2024, only Rs 7,755 crore worth of notes remained with the public, marking a significant decrease from the initial circulation.
Withdrawal Announcement and Exchange Facilities
The RBI announced the withdrawal of Rs 2000 banknotes from circulation on May 19, 2023. Until October 7, 2023,
individuals could deposit or exchange these notes at any bank branch nationwide. After this date, the facility was available exclusively at 19 issue offices of the Reserve Bank.
Acceptance by RBI Issue Offices
Starting October 9, 2023, RBI’s issue offices began accepting Rs 2000 notes from individuals and institutions for depositing into their bank accounts.
Additionally, people could use Indian Post services to send these notes to any RBI issue office for deposit.
Introduction After Demonetization
The Rs 2000 banknotes were introduced after the demonetization announcement in November 2016, which saw the withdrawal of Rs 1000 and Rs 500 banknotes from circulation.
Locations of RBI Issue Offices
RBI has 19 offices across various cities for depositing and exchanging banknotes. These cities include Ahmedabad, Bengaluru, Belapur, Bhopal,
Bhubaneswar, Chandigarh, Chennai, Guwahati, Hyderabad, Jaipur, Jammu, Kanpur, Kolkata, Lucknow, Mumbai, Nagpur, New Delhi, Patna, and Thiruvananthapuram.
