Withdrawal of ₹2000 Denomination Banknotes – Status

**Executive Summary** This press release from the Reserve Bank of India (RBI), dated February 02, 2026, provides an update on the withdrawal of ₹2000 denomination banknotes. The withdrawal was initially announced on May 19, 2023. The release details the status of the withdrawal and the continued availability of exchange facilities, with the next update to be published by the RBI at a later date. **Key Points / Main Content** * **Withdrawal Announcement:** The withdrawal of ₹2000 denomination banknotes was announced via Press Release 2023-2024/257 dated May 19, 2023. * **Exchange/Deposit Facility Availability:** * The facility for deposit and/or exchange of ₹2000 banknotes was available at all bank branches until October 07, 2023. * The facility for exchange remains available at the 19 Issue Offices of the Reserve Bank since May 19, 2023. * RBI Issue Offices are also accepting ₹2000 banknotes for deposit from individuals/entities since October 09, 2023. * Members of the public can send ₹2000 banknotes through India Post to any of the RBI Issue Offices for credit to their bank accounts. * **Circulation Status:** The total value of ₹2000 banknotes in circulation has declined from ₹3.56 lakh crore on May 19, 2023, to ₹5,609 crore on January 31, 2026. 98.42% of the ₹2000 banknotes in circulation as of May 19, 2023, have been returned. * **Legal Tender Status:** The ₹2000 banknotes continue to be legal tender. **Impact Analysis** **General Public/Individuals:** * **Impact:** The public can continue to exchange ₹2000 banknotes at the 19 RBI Issue Offices. They can also deposit notes into their bank accounts through RBI Issue Offices or through India Post to RBI issue offices. The majority of the ₹2000 notes have already been returned. * **Action Required:** No immediate action is required. Individuals holding ₹2000 notes can continue to exchange or deposit them. **Banks/Financial Institutions:** * **Impact:** Banks are no longer required to exchange ₹2000 notes since October 7, 2023, but need to ensure the RBI Issue Offices are credited if they are sent through India Post. * **Action Required:** Banks should be aware of continued acceptance of ₹2000 banknotes through India Post. **RBI Issue Offices:** * **Impact:** The 19 RBI Issue Offices continue to handle the exchange and deposit of ₹2000 banknotes. * **Action Required:** Continue to provide facilities for exchange and deposit. **India Post** * **Impact:** India post is responsible for sending ₹2000 banknotes from any post office within the country to any of the RBI Issue Offices for credit to their bank accounts. * **Action Required:** Continue to provide facilities for deposit to RBI.

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