Do you still have old ₹2000 notes tucked away and are unsure where to exchange or deposit them? Even though the Reserve Bank of India (RBI) announced the withdrawal of ₹2000 denomination notes over two years ago, many people are still holding onto these high-value bills. As per the latest RBI report, a staggering ₹6,017 crore worth of ₹2000 notes are still circulating in the system.
The RBI had officially declared on May 19, 2023, that ₹2000 notes would be gradually phased out of circulation. At that time, the total value of these notes in circulation stood at ₹3.56 lakh crore. Fast forward to August 2025, and nearly 98.31% of those notes have been returned to the banking system, reducing the outstanding value to just ₹6,017 crore.
Despite this significant return rate, many people are still seeking clarity on whether these notes remain valid and where they can be exchanged or deposited.
The RBI has reiterated that ₹2000 notes continue to be legal currency. Technically, these notes can still be used for transactions. However, in practice, many shopkeepers and businesses have grown reluctant to accept them, leading to confusion among the public.
For individuals looking to exchange or deposit their ₹2000 notes, RBI’s Issue Offices remain the primary option. You can visit any of the 19 designated RBI Issue Offices across India to deposit these notes into your bank account. This facility has been operational since October 9, 2023, and continues to be available.
Ahmedabad
Bengaluru
Belapur
Bhopal
Bhubaneswar
Chandigarh
Chennai
Guwahati
Hyderabad
Jaipur
Jammu
Kanpur
Kolkata
Lucknow
Mumbai
Nagpur
New Delhi
Patna
Thiruvananthapuram
If visiting an RBI office in person is inconvenient, there’s an alternative method. The RBI allows individuals to send their ₹2000 notes via Indian Post to any of its Issue Offices. Once received, the amount will be credited to the sender’s bank account. This postal facility provides a hassle-free option, especially for those residing in remote areas.
While the withdrawal process has seen massive success, the remaining unreturned notes continue to pose a logistical challenge. The RBI has not set a definitive deadline to end the deposit facility. However, with most of the notes already back in the system, this special exchange/deposit window could close in the near future.
Thus, if you’re still holding onto old ₹2000 notes, it’s advisable to act promptly and either deposit them into your bank account or exchange them at one of the designated RBI offices.
