This announcement came on May 19, 2023, when the RBI declared its intention to phase out the 2000 rupee notes.

At that time, the total value of these notes was approximately ₹3.56 lakh crores.

As of April 30, 2026, only ₹5,451 crores worth of 2000 rupee notes will remain in circulation.

Despite this withdrawal, the 2000 rupee notes are still considered legal tender.

Since October 9, 2023, individuals and institutions can deposit these notes at RBI’s issue offices.

People can also send their notes via India Post to the RBI’s issue offices for deposit.

The RBI has made provisions for exchanging these notes at its 19 issue offices across India.

The significant percentage of returned notes indicates a smooth transition in the withdrawal process, according to the RBI.

This development is critical for managing currency circulation and maintaining economic stability in India.

The RBI stated, “By May 19, 2023, 98.47% of the existing 2000 rupee notes have been returned.”

Officials continue to monitor the situation closely as more data becomes available regarding public compliance with the withdrawal initiative.

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