Big news revealed regarding Rs 2000 note. It’s been nearly two years since the two thousand rupee notes were banned, and surprisingly, the RBI and the government still haven’t collected all of them. Less than two percent of these notes are still out there in circulation, but they don’t hold any real value anymore. Back in May 2023, the government officially pulled these notes from the system. Here’s what the latest RBI report reveals.
Update on the two thousand rupee notes
On Saturday, the Reserve Bank of India (RBI) announced that 98.18 percent of the Rs 2000 notes have made their way back into the banking system. Currently, only Rs 6,471 crore worth of these notes are still in the hands of the public. The RBI had declared the withdrawal of Rs 2000 notes on May 19, 2023.
According to the RBI, the total value of Rs 2000 notes in circulation on May 19, 2023, was Rs 3.56 lakh crore, which has now dropped to Rs 6,471 crore as of February 28, 2025. The central bank confirmed that 98.18 percent of the Rs 2000 notes that were in circulation on that date have been returned.
Where to deposit your notes
You could deposit or exchange your two thousand rupee notes at any bank branch until October 7, 2023. However, this service is still available at 19 RBI issue offices. Starting October 9, 2023, these offices will accept Rs 2000 notes from individuals and institutions for deposit into their bank accounts.
Additionally, anyone can send Rs 2000 notes from any post office in the country to an RBI office for deposit into their bank account. These notes will still be considered legal tender.