Despite the Reserve Bank of India (RBI) withdrawing Rs 2000 notes in May 2023, a significant amount—Rs 6,266 crore worth—remains in circulation as of April 30, 2025. This follows the RBI’s announcement to remove the high-value denomination from circulation two years ago. While 98.24% of these notes have been returned, the remaining currency continues to be valid for transactions, according to the latest official data.
Despite the Reserve Bank of India (RBI) withdrawing the Rs 2000 denomination notes from circulation in May 2023, an estimated Rs 6,266 crore worth of these high-value notes are still in circulation, according to the latest data released by the RBI.
On May 19, 2023, the RBI announced that it would discontinue the Rs 2000 notes as part of a broader plan to encourage digital transactions and replace high-value currency with new notes. The central bank noted that at the time of the announcement, there were approximately Rs 3.56 lakh crore worth of Rs 2000 notes in circulation. As of April 30, 2025, Rs 6,266 crore worth of Rs 2000 notes remain in public circulation, despite 98.24% of these notes having been returned.
The RBI has clarified that while the Rs 2000 notes are no longer being printed, they remain legal tender. The continued circulation of the notes suggests that a portion of the public has either failed to exchange them or still holds onto them as a store of value.
The Rs 2000 banknotes, initially introduced in 2016 as part of the government’s demonetization drive, were meant to address the shortage of high-denomination currency following the demonetization of Rs 500 and Rs 1000 notes. The recent move to phase out the Rs 2000 notes has sparked mixed reactions, with some supporting the move for its potential to reduce black money, while others believe it might cause short-term inconvenience for the public.
As of now, the RBI has not announced a definitive timeline for completely withdrawing the Rs 2000 notes from circulation. Investors and general public are encouraged to stay updated on further announcements from the RBI on this matter.
