The Reserve Bank of India (RBI) on Saturday said 98.18 per cent of the ₹2000 banknotes in circulation as on May 19, 2023, have been returned till February 28, 2025.

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 ₹2000 banknotes was announced, has declined to ₹6,471 crore at the close of business on February 28, 2025, per a central bank statement.

RBI emphasised that ₹2000 banknotes continue to be legal tender.

The central bank said the facility for deposit and / or exchange of the ₹2000 banknotes was available at all bank branches in the country up to October 07, 2023.

The facility for exchange of the ₹2000 banknotes is available at RBI’s 19 Issue Offices since May 19, 2023.

From October 09, 2023, RBI Issue Offices are also accepting ₹2000 banknotes from individuals / entities for deposit into their bank accounts.

Further, members of the public are sending ₹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 central bank had announced the withdrawal of ₹2000 banknotes on May 19, 2023, from circulation as these notes were not commonly used for transactions and the stock of banknotes in other denominations continues to be adequate to meet the currency requirement of the public.

Then, RBI also said the withdrawal is in pursuance of its “Clean Note Policy”.