₹2000 Note Deadline: The Reserve Bank of India (RBI) has reported that 98.18 percent of the ₹ 2000 notes in circulation have returned to the banking system. Now only ₹ 6,471 crore of such notes are left with the public. In a statement issued on Saturday, the Reserve Bank of India gave information about the status of ₹ 2000 notes.
RBI announced the withdrawal of ₹ 2000 banknotes from circulation on May 19, 2023. At that time, the total value of these notes in circulation was ₹ 3.56 lakh crore. As of February 28, 2025, this figure has come down sharply to ₹ 6,471 crore. If you also have ₹ 2000 notes, then it is important to know the right way to deposit them.
The process to deposit ₹2000 notes
Till October 7, 2023, you could exchange or deposit ₹2000 notes by visiting a bank branch, but now those who have this note can deposit it in 19 issue offices of the Reserve Bank. RBI’s issue offices have been accepting ₹2000 notes from individuals and institutions for depositing them in their bank accounts from October 9, 2023.
To make this process more convenient for the people of the country, a facility has also been introduced to send ₹2000 notes from any post office to these offices of the Reserve Bank through India Post, which will then be deposited in their accounts. This process makes depositing notes simple and accessible.
Why ₹2000 notes are being withdrawn
The Reserve Bank said that despite being withdrawn from circulation, ₹2000 banknotes will continue to be legal tender. Let us tell you that the withdrawal of ₹ 2000 notes is part of the Reserve Bank of India’s clean note policy so that damaged, counterfeit, and less-used notes can be removed from circulation. This policy helps in maintaining the quality and reliability of the notes.
The withdrawal process of ₹ 2000 notes is almost complete. If you still have these notes, deposit them through RBI offices or post offices as soon as possible. This information will help you understand the process of depositing notes.