Rs 2000 banknotes: 97.92 pc returned; Rs 7,409 cr worth notes still with public

On May 19, 2023, the Reserve Bank of India (RBI) announced the withdrawal of Rs 2000 denomination banknotes from circulation. As of July 31, 2024, 97.92% of the Rs 2000 banknotes in circulation as of May 19, 2023, have been returned, with only Rs 7,409 crore worth of the withdrawn notes still with the public. The total value of Rs 2000 banknotes in circulation at the time of withdrawal was Rs 3.56 lakh crore, which has now declined to Rs 7,409 crore.

The facility for deposit and/or exchange of the Rs 2000 banknotes was available at all bank branches in the country until October 7, 2023. Additionally, the facility for the exchange of the Rs 2000 banknotes has been available at the 19 issue offices of the Reserve Bank since May 19, 2023.

Furthermore, from October 9, 2023, RBI issue offices started accepting Rs 2000 banknotes from individuals and entities for deposit into their bank accounts. Moreover, members of the public are able to send Rs 2000 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 offices that are depositing/exchanging the banknotes are in Ahmedabad, Bengaluru, Belapur, Bhopal, Bhubaneswar, Chandigarh, Chennai, Guwahati, Hyderabad, Jaipur, Jammu, Kanpur, Kolkata, Lucknow, Mumbai, Nagpur, New Delhi, Patna, and Thiruvananthapuram. The Rs 2000 banknotes were introduced in November 2016, following the demonetisation of the then-prevailing Rs 1000 and Rs 500 banknotes.