New Delhi :
The Reserve Bank of India (RBI) has announced that 98.18% of the ₹2000 banknotes have been returned to the banking system, leaving only ₹6,471 crore worth of these notes still with the public.
Current Status of ₹2000 Notes
On May 19, 2023, the RBI declared the withdrawal of ₹2000 notes from circulation. At that time, the total value of these notes in circulation was ₹3.56 lakh crore.
As of February 28, 2025, this amount has significantly reduced to ₹6,471 crore.
For individuals still holding ₹2000 notes, it is essential to be aware of the correct process for depositing them.
Process to Deposit ₹2000 Notes
Initially, individuals could exchange or deposit ₹2000 notes by visiting a bank branch up until October 7, 2023. However, after this deadline, deposit facilities have been shifted to 19 RBI issue offices.
From October 9, 2023, RBI’s issue offices have been accepting ₹2000 notes from both individuals and institutions for direct deposit into their bank accounts.
To ensure ease of deposit, India Post has introduced a facility where people can send their ₹2000 notes to RBI issue offices via post, which will then be credited to their accounts.
This initiative has simplified the process and increased accessibility for the general public.
Reasons Behind the Withdrawal
Despite their withdrawal, the ₹2000 banknotes remain legal tender. The RBI clarified that the removal of these notes is part of its Clean Note Policy, which aims to:
- Eliminate damaged, counterfeit, and less-used currency from circulation.
- Ensure the overall quality and reliability of the currency in use.
Final Call for Depositing ₹2000 Notes
The withdrawal process is nearing completion. If you still hold ₹2000 notes, deposit them at RBI offices or use India Post’s facility to avoid inconvenience.
Stay informed and complete the process at the earliest to comply with RBI’s guidelines.
