RBI Says 98.47% of ₹2000 Notes Returned: Value Falls from ₹3.56 Lakh Crore to ₹5,451 Crore, Still Legal Tender
May 02, 2026
RBI reports that 98.47% of ₹2000 banknotes have been returned since their withdrawal was announced on May 19, 2023, with the value in circulation plunging from ₹3.56 lakh crore to ₹5,451 crore by April 30, 2026, even as the notes remain legal tender and can still be exchanged or deposited.
The Reserve Bank on Friday said 98.47% of the ₹2000 banknotes in circulation have been returned.
The total value of ₹2000 banknotes in circulation, which was ₹3.56 lakh crore at the close of business on May 19, 2023, when the withdrawal of the currency was announced, has declined to ₹5,451 crore at the close of business on April 30, 2026.
"Thus, 98.47% of the ₹2000 banknotes in circulation as on May 19, 2023, have since been returned," the Reserve Bank said in a statement.
A facility for exchanging ₹2,000 banknotes is available at the 19 issue offices of the Reserve Bank since May 19, 2023. From October 9, 2023, the RBI issue offices also accept ₹2,000 banknotes from individuals/entities for deposit into their bank accounts.
Additionally, members of the public are sending ₹2,000 banknotes through India Post from any post office within the country to any of the RBI issue offices for credit to their bank accounts, the RBI said in a release.
The total value of ₹2000 banknotes in circulation, which was ₹3.56 lakh crore at the close of business on May 19, 2023, when the withdrawal of the currency was announced, has declined to ₹5,451 crore at the close of business on April 30, 2026.
"Thus, 98.47% of the ₹2000 banknotes in circulation as on May 19, 2023, have since been returned," the Reserve Bank said in a statement.
A facility for exchanging ₹2,000 banknotes is available at the 19 issue offices of the Reserve Bank since May 19, 2023. From October 9, 2023, the RBI issue offices also accept ₹2,000 banknotes from individuals/entities for deposit into their bank accounts.
Additionally, members of the public are sending ₹2,000 banknotes through India Post from any post office within the country to any of the RBI issue offices for credit to their bank accounts, the RBI said in a release.