RBI reports 98.47% of ₹2000 notes returned, still legal tender.
RBI reports 98.47% return of ₹2000 notes, still legal tender
RBI reports 98.47% of ₹2000 notes returned, still legal tender.
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RBI: 98.47% of ₹2000 notes returned, still legal tender · NewsDarpan AI
The Reserve Bank of India (RBI) has announced that 98.47% of ₹2000 denomination banknotes in circulation as of May 19, 2023, have been returned. This update comes after the withdrawal of these high-value notes was initiated on May 19, 2023, and follows the latest status report released on April 30, 2026.
Initially valued at ₹3.56 lakh crore, the total circulation of ₹2000 notes has now reduced to ₹5,451 crore. Despite the withdrawal, the ₹2000 notes remain legal tender, ensuring their continued validity for transactions.
The RBI had provided facilities for deposit and exchange of ₹2000 notes at all bank branches until October 7, 2023. Since October 9, 2023, individuals and entities can deposit these notes at the 19 RBI Issue Offices or send them via India Post to these offices for credit to their bank accounts.
The withdrawal of ₹2000 notes was aimed at streamlining currency circulation and addressing concerns over their limited use in daily transactions. The RBI has periodically updated the public on the progress of this initiative.
This significant reduction in circulation reflects the public's compliance with the withdrawal process, while the legal tender status ensures flexibility for those still holding ₹2000 notes.
Source: Reserve Bank of India press release, Fri, 01 May 2026 16:50:00. http://www.rbi.org.in/scripts/BS_PressReleaseDisplay.aspx?prid=62669