If you’ve come across a ₹2,000 note tucked away in a drawer or wallet and are wondering whether it’s still valid, you’re not alone. Amid multiple rule changes that kicked in from January 1, the Reserve Bank of India (RBI) has issued a fresh update clarifying the status of the high-value currency note that was withdrawn from circulation in 2023.
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₹2,000 Notes: How Many Are Still Out There?
In its January 1 bulletin, the RBI revealed that the total value of ₹2,000 banknotes in circulation has dropped sharply over the past three years.
According to the central bank, ₹2,000 notes worth ₹3.56 lakh crore were in circulation on May 19, 2023—the day the withdrawal was announced. As of December 31, 2025, this figure has fallen to ₹5,669 crore.
That means over 98 per cent of the ₹2,000 notes have already been returned to the banking system. Only a tiny fraction remains with the public.
Are ₹2,000 Notes Illegal Now?
Short answer: No.
The RBI has made it clear that ₹2,000 banknotes continue to be legal tender. Holding one is not an offence, and there is no penalty for possessing the note. However, since it has been withdrawn from circulation, people are expected to return or deposit it through RBI-approved channels.
Bank Exchange Facility Is Closed
One important point to remember:
The option to deposit or exchange ₹2,000 notes at regular bank branches ended on October 7, 2023. This facility is no longer available at commercial banks.
How to Exchange or Deposit ₹2,000 Notes Now
If you still have a ₹2,000 note, here’s what you can do:
1. Visit an RBI Issue Office
From October 9, 2023 onwards, ₹2,000 notes can be deposited into your bank account at any of RBI’s 19 Issue Offices across India.
2. Direct Exchange at RBI Offices
You can also exchange the note directly at these RBI Issue Offices, subject to prescribed limits and verification.
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3. Use India Post for Account Credit
If visiting an RBI office isn’t convenient, there’s another option.
You can send the ₹2,000 notes via India Post from any post office in India to an RBI Issue Office, along with details of your bank account, for credit.
Where Are RBI Issue Offices Located?
RBI Issue Offices are present in:
Ahmedabad, Bengaluru, Belapur, Bhopal, Bhubaneswar, Chandigarh, Chennai, Guwahati, Hyderabad, Jaipur, Jammu, Kanpur, Kolkata, Lucknow, Mumbai, Nagpur, New Delhi, Patna and Thiruvananthapuram.
Bottom Line
If you’re still holding a ₹2,000 note, there’s no need to panic. It’s still valid, but it won’t stay in circulation forever. The RBI wants the remaining notes back in the system, and the window is still open—just not through regular bank branches anymore.
