Chennai, July 11:
More than three years after the withdrawal of ₹2000 banknotes from circulation, the Reserve Bank of India has reiterated that the denomination continues to remain legal tender. Citizens holding these notes can still deposit or exchange them through designated RBI Issue Offices across the country.
According to the latest RBI data, the withdrawal process is nearing completion. When the decision was first announced in May 2023, ₹2000 notes worth ₹3.56 lakh crore were in circulation. As of April 30, 2026, this has reduced significantly to ₹5,451 crore, indicating that 98.47% of the notes have already been returned to the banking system.
The RBI has maintained that individuals can visit any of its 19 Issue Offices to exchange or deposit ₹2000 banknotes. Major centres include Chennai, Mumbai, New Delhi, Kolkata, and Bengaluru.
For those unable to visit RBI offices in person, the central bank has provided an alternative facility through India Post. Individuals can send their ₹2000 notes via post to the nearest RBI Issue Office. After verification, the equivalent amount will be credited directly to their bank accounts.
The RBI has clarified that the withdrawal of ₹2000 notes does not amount to demonetisation. The notes remain valid under law, though they are no longer part of active circulation.
The central bank has advised citizens to complete the deposit or exchange process at the earliest and to rely only on official communications to avoid misinformation.