Almost two-years after the Reserve Financial institution of India (RBI) introduced the withdrawal of Rs 2,000 banknotes from circulation, Rs 6,181 crore price of the same denomination notes are but to come back again to the central financial institution.
The full worth of Rs 2,000 banknotes in circulation, which was Rs 3.56 lakh crore on the shut of enterprise on Could 19, 2023, when the withdrawal of Rs 2,000 banknotes was introduced, has declined to Rs 6,181 crore as on Could 31, 2025, the RBI stated in a launch. “Thus, 98.26 per cent of the Rs 2,000 banknotes in circulation as on Could 19, 2023, has since been returned,” it stated.
Though withdrawn from circulation, the Rs 2,000 banknote continues to be a authorized tender.
The RBI stated that the power for alternate of the Rs 2,000 banknotes is on the market on the 19 concern workplaces of the Reserve Financial institution since Could 19, 2023. From October 9, 2023, RBI concern workplaces are additionally accepting Rs 2,000 banknotes from people or entities for deposit into their financial institution accounts.
Additional, members of the general public are sending Rs 2000 banknotes by India Publish from any publish workplace inside the nation, to any of the RBI concern workplaces for credit score to their financial institution accounts.
The Rs 2,000 denomination banknote was launched in November 2016 beneath Part 24(1) of RBI Act, 1934, primarily to satisfy the foreign money requirement of the financial system in an expeditious method after the withdrawal of authorized tender standing of all Rs 500 and Rs 1,000 banknotes in circulation at the moment. “The target of introducing Rs 2,000 banknotes was met as soon as banknotes in different denominations grew to become obtainable in sufficient portions. Due to this fact, printing of Rs 2,000 banknotes was stopped in 2018-19,” the RBI earlier stated.
The RBI’s annual report confirmed that the counterfeit notes detected in Rs 2,000 denomination declined considerably throughout 2024-25 within the banking system. The variety of counterfeit Rs 2,000 banknotes detected within the system dropped by 86.52 per cent to three,508 notes in 2024-25, in comparison with 26,035 items in 2023-24.