Are Rs 2,000 Bank Notes Still A Legal Tender? Check What RBI Said

New Delhi: The Reserve Bank of India (RBI) has said that 97.26% of the Rs 2000 banknotes in circulation as on May 19, 2023, has since been returned.

RBI on Friday, giving the details on status of the Withdrawal of Rs 2000 Denomination Banknotes said, "The total value of ₹2000 banknotes in circulation, which amounted to ₹3.56 lakh crore as at the close of business on May 19, 2023 when the withdrawal of ₹2000 banknotes was announced, has declined to ₹9,760 crore as at the close of business on November 30, 2023. Thus, 97.26% of the ₹2000 banknotes in circulation as on May 19, 2023, has since been returned."

The Reserve Bank of India futher said that Rs 2000 banknotes continue to be legal tender.

RBI had announced the withdrawal of Rs 2000 denomination banknotes from circulation on May 19, 2023. The status of withdrawal of Rs 2,000 banknotes has been periodically published by the RBI.

The facility for deposit and / or exchange of the Rs 2,000 banknotes was available at all bank branches in the country initially upto September 30, 2023, which was later extended upto October 07, 2023.

The facility for exchange of the Rs 2,000 banknotes was also available at the 19 Issue Offices of the Reserve Bank (RBI Issue Offices)1 from May 19, 2023. 

"From October 09, 2023, RBI Issue Offices, in addition to exchanging ₹2000 denomination banknotes across the counters, are also accepting ₹2000 banknotes from individuals / entities for deposit to their bank accounts. Further, members of the public from within the country can send ₹2000 banknotes through India Post from any post office in the country, to any of the RBI Issue Offices for credit to their bank accounts in India," RBI said.