The Reserve Bank of India (RBI) on Tuesday said that 98.33% of the Rs 2000 denomination banknotes in circulation at the time of their withdrawal have been returned. The value of Rs 2000 notes in circulation has declined from Rs 3.56 lakh crore on May 19, 2023 — when the withdrawal was announced — to Rs 5,956 crore as of August 31, 2025.

The facility to deposit or exchange Rs 2000 notes at bank branches was available until October 7, 2023. Since then, the notes can be exchanged at the RBI’s 19 Issue Offices or sent via India Post for credit into bank accounts.

RBI reiterated that Rs 2000 banknotes continue to be legal tender.