Over 97% of ₹2000 Notes Returned to RBI, ₹7,581 Crore Still in Circulation

New Delhi: The Reserve Bank of India (RBI) announced on Monday that 97.87% of the ₹2000 denomination banknotes have been returned to the banking system, leaving only ₹7,581 crore worth of these notes with the public.

The RBI had announced the withdrawal of ₹2000 banknotes from circulation on May 19, 2023. At that time, ₹2000 banknotes in circulation amounted to ₹3.56 lakh crore. By June 28, 2024, this figure had sharply declined to ₹7,581 crore.

The RBI provided facilities for depositing and exchanging ₹2000 notes at all bank branches until October 7, 2023. Since May 19, 2023, the exchange service has been available at 19 RBI issue offices. From October 9, 2023, these offices have also been accepting ₹2000 notes for deposit into bank accounts.

Additionally, the public can send ₹2000 notes through India Post from any post office in the country to any RBI issue office for credit to their bank accounts. The RBI issue offices accepting these banknotes are located in Ahmedabad, Bengaluru, Belapur, Bhopal, Bhubaneswar, Chandigarh, Chennai, Guwahati, Hyderabad, Jaipur, Jammu, Kanpur, Kolkata, Lucknow, Mumbai, Nagpur, New Delhi, Patna, and Thiruvananthapuram.

The ₹2000 banknotes were introduced in November 2016 following the demonetisation of ₹1000 and ₹500 banknotes.