As of May 31, 2025, Rs 2000 currency notes worth Rs 6,181 crore remain in circulation in India, despite the Reserve Bank of India’s (RBI) withdrawal notice issued in May 2023. The RBI, headquartered in Mumbai, Maharashtra, serves as India’s central banking authority, managing currency and overseeing the country’s monetary policy. According to its latest update, these high-value notes can still be exchanged at the RBI’s issue offices or sent through India Post, although their usage in daily transactions is minimal.
The Reserve Bank of India (RBI), the central banking institution of India headquartered in Mumbai, Maharashtra, has announced that Rs 2000 currency notes worth Rs 6,181 crore are still in circulation, despite their official withdrawal in May 2023. The RBI is responsible for managing the issuance and supply of the Indian rupee and maintaining monetary stability in the country.
According to the latest data released by the RBI on May 31, 2025, the majority of the Rs 2000 notes have been returned to the banking system since the withdrawal notice. However, a small percentage still remains with the public. These notes continue to be legal tender and can be exchanged through designated channels.
The central bank confirmed that individuals can still deposit or exchange Rs 2000 notes at any of the 19 RBI Issue Offices located across the country. Additionally, citizens can send these notes via India Post to the nearest RBI Issue Office for credit into their bank accounts.
The Rs 2000 denomination was introduced in November 2016 following the demonetization of Rs 500 and Rs 1000 notes, aimed at quickly replenishing the currency system. The RBI gradually phased out the note due to concerns about its use in hoarding and low circulation in everyday transactions.
While public use of the Rs 2000 note has dropped significantly since the withdrawal notice, the RBI continues to facilitate a smooth process for returning the notes without disrupting the financial ecosystem.
