The Reserve Bank of India has announced that 97.92% of the ₹2000 denomination banknotes have been returned since the withdrawal was initiated.
When the withdrawal of ₹2000 banknotes was first announced, the total value of these banknotes in circulation was ₹3.56 lakh crore. By the close of business on July 31, 2024, this figure has plummeted to ₹7409 crore, indicating the successful return of a significant majority of these notes.
Initially, the RBI facilitated the deposit and exchange of ₹2000 banknotes at all bank branches across the country until October 7, 2023. Following this period, from October 9, 2023, the 19 Issue Offices of the RBI began accepting ₹2000 banknotes from individuals and entities for deposit into their bank accounts. Additionally, members of the public have been able to send ₹2000 banknotes via India Post from any post office within the country to any of the RBI Issue Offices for credit to their bank accounts since May 19, 2023.
The ₹2000 banknotes continue to remain legal tender.
