https://indianmasterminds.com

ADVERTISEMENT
ADVERTISEMENT

2 Years After Withdrawal, Rs 2000 Notes Worth Rs 6,099 Crore Still in Circulation

RBI Says 98.29% of ₹2000 Notes Returned; Legal Tender Status Continues
Indian Masterminds Stories

Mumbai: Two years after the Reserve Bank of India (RBI) announced the withdrawal of ₹2000 denomination banknotes, a total of ₹6,099 crore worth of these high-value notes remain in circulation, according to official data released by the central bank on Tuesday.

Despite the withdrawal from active circulation, ₹2000 notes continue to be legal tender, and can still be deposited or exchanged at select RBI offices.

₹3.56 Lakh Crore in 2023 Shrinks to ₹6,099 Crore in 2025

On May 19, 2023, the RBI announced its decision to withdraw ₹2000 notes from circulation as part of its currency management strategy. At that time, the total value of ₹2000 notes in circulation stood at ₹3.56 lakh crore.

As of June 30, 2025, that number has sharply dropped by ₹3.5 lakh crore, with only ₹6,099 crore still in public hands—indicating that 98.29% of the ₹2000 notes have been returned to the banking system.

Read Also: RBI Bolsters AePS Onboarding Rules Aligned with KYC to Boost Security

Exchange and Deposit Facilities: Then and Now

Initially, deposit and exchange of ₹2000 notes were allowed at all bank branches across the country till October 7, 2023. After that, the facility has remained open at the 19 Issue Offices of the RBI.

Since October 9, 2023, these RBI Issue Offices continue to accept ₹2000 notes from both individuals and entities for deposit into their bank accounts.

Additionally, to improve access, the RBI has enabled deposits via India Post. Individuals can send ₹2000 notes from any post office to any of the RBI Issue Offices, and the corresponding amount will be credited to their bank accounts.

Legal Tender Status Remains Intact

The RBI reiterated that ₹2000 banknotes continue to be legal tender, despite being withdrawn from active circulation. This means that the currency is still valid for transactions, although not being issued or promoted for regular use.

The decision to withdraw the ₹2000 note was initially framed as part of the RBI’s broader strategy to streamline high-denomination currency and improve transparency and efficiency in the financial system.

Read Also: RBI Issues New Framework for Gold and Silver Loans; Increases LTV Ratio and Tightens Lender Guidelines – Details Inside

About RBI

Reserve Bank of India. The Reserve Bank of India was established on April 1, 1935 in accordance with the provisions of the Reserve Bank of India Act, 1934. The Central Office of the Reserve Bank was initially established in Kolkata but was permanently moved to Mumbai in 1937.

It regulates the banking system and the currency supply, aiming for monetary stability and economic development. Key functions include managing foreign exchange, acting as a banker to the government, and promoting financial inclusion. The RBI also supervises banks and works to ensure the stability of the financial system. 


Indian Masterminds Stories
ADVERTISEMENT
ADVERTISEMENT
Related Stories
ADVERTISEMENT
ADVERTISEMENT
NEWS
UPSC IAS IPS IFS
UPSC Declares Final Results of Combined Section Officers’ (Grade ‘B’) LDCE 2024, 303 Candidates Selected for CSS
nmdc resized
Steel Industry Relief: NMDC Slashes Iron Ore Prices by Up to Rs600 per Tonne Amid Weak Market Demand
MCL
Mahanadi Coalfields (MCL) to Boost Coal Output by 50% by 2035, Backs CIL’s 1-Billion Tonne Target
CEA
Central Electricity Authority (CEA) & IIT Roorkee Forge Strategic Partnership to Accelerate Innovation in Power Sector
5G_
DoT Begins New Spectrum Demand Assessment for Private 5G Networks Through Saral Sanchar Portal
Reserve-Bank-of-India_RBI_resized
2 Years After Withdrawal, Rs 2000 Notes Worth Rs 6,099 Crore Still in Circulation
coal india and hindustan copper
India’s Clean Energy Push: Coal India Signs MoU with Hindustan Copper to Collaborate in Critical Mineral Sector
National-Highways-Authority-of-Indiaa
IAS Vinay Kumar Appointed as Chief Vigilance Officer of NHAI on Additional Charge - Know More
ADVERTISEMENT
ADVERTISEMENT
Videos
Inderjit Singh Air India
Is Air India Carrying The Burden of Split Before Privatisation?
Ex IRS C Rajendiran
Ex-IRS Officer C. Rajendiran Illuminates Thirukkural’s Timeless Wisdom in Exclusive Interview
WhatsApp Image 2025-06-25 at 5.07
Why Has the DGCA Fined Air India Rs 5 Crore Since Privatisation?
ADVERTISEMENT
UPSC Stories
IPS Deepak Meghani
Deepak Meghani, IPS: A Journey of Focus, Failure, and Quiet Discipline
A passionate writer, he has authored several books in Gujarati, ranging from exam strategy guides to...
Sanish Kumar Singh
“If you want it badly enough, you’ll find a way,” Sanish Kumar Singh AIR 8, UPSC IFS 2024 
The real interview, he says, was much more humane. “The board was conversational. The chairman opened...
Raju Wagh
When the Battlefield Became a Study Room and a Dream Took Flight
Amid IED blasts and anti-Maoist operations in Bastar, CRPF Commando Raju Wagh taught village kids, studied...
Social Media
Shailaja Chandra
“Nanis & Dadis Have a Brain”: Former IAS Officer Shailaja Chandra Weighs in on 1970s vs 2025 Life Debate - “This Generation Has It Better”
Responding to Viral Post on Middle-Class Struggles, Ex-Bureaucrat Offers Candid Reflection on Then and...
Tigress Arrowhead
The End of an Era: A Queen Falls - Ranthambore’s Iconic Tigress Arrowhead (T-84) Passes Away at 14, Hours After Daughter’s Relocation
Ranthambore mourns the loss of one of its fiercest and most beloved tigers, Arrowhead, the granddaughter...
Screenshot 2025-06-13 194001
Wild Elephant Disrupts Riverside Picnic, Sparks Debate on Human Encroachment; IFS Parveen Kumar Shares the Video - Watch Here!
Mr. Kaswan used the viral video, which has garnered over 1.5 lakh views, to highlight the risks of human...
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT
Latest
UPSC IAS IPS IFS
UPSC Declares Final Results of Combined Section Officers’ (Grade ‘B’) LDCE 2024, 303 Candidates Selected for CSS
nmdc resized
Steel Industry Relief: NMDC Slashes Iron Ore Prices by Up to Rs600 per Tonne Amid Weak Market Demand
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT
Videos
Inderjit Singh Air India
Ex IRS C Rajendiran
WhatsApp Image 2025-06-25 at 5.07
ADVERTISEMENT
ADVERTISEMENT