Rs 2,000 Notes Still Legal Tender, RBI Clarifies; Explains How to Exchange Remaining Currency

Mumbai: The Reserve Bank of India (RBI) has clarified that Rs 2,000 currency notes remain legal tender, even though they have been withdrawn from circulation, amid ongoing confusion among the public.

In an official statement, the central bank said the total value of Rs 2,000 notes in circulation has dropped sharply since the withdrawal announcement. The value stood at Rs 3.56 lakh crore on May 19, 2023, and has now reduced to Rs 5,669 crore as of December 31, 2025.

According to the RBI, nearly 98 per cent of the Rs 2,000 notes have already been returned to the banking system. The remaining notes are still held by some individuals or are in limited circulation. The RBI stressed that these notes are valid and can still be used as legal tender.

The central bank has, however, advised the public to deposit or exchange the remaining Rs 2,000 notes at the earliest. It clarified that the facility to exchange or deposit these notes at commercial bank branches ended on October 7, 2023.

From October 9, 2023, individuals and institutions can deposit Rs 2,000 notes into their bank accounts at any of the 19 RBI Issue Offices across the country. These offices also provide a direct exchange facility for members of the public.

Additionally, people can send Rs 2,000 notes through India Post from any post office to an RBI Issue Office, along with a request to credit the amount to their bank accounts. The RBI has advised citizens to check the locations of the Issue Offices before proceeding.

The RBI Issue Offices are located in Ahmedabad, Bengaluru, Belapur, Bhopal, Bhubaneswar, Chandigarh, Chennai, Guwahati, Hyderabad, Jaipur, Jammu, Kanpur, Kolkata, Lucknow, Mumbai, Nagpur, New Delhi, Patna and Thiruvananthapuram.

The RBI reiterated that while the Rs 2,000 note is no longer issued, people should make use of the available facilities to deposit or exchange any remaining notes.