**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, initially announced on May 19, 2023. The release notes that the facility for deposit and exchange was available at all bank branches until October 07, 2023, but continues at the 19 Issue Offices of the RBI.
**Key Points / Main Content**
* **Withdrawal Status:**
* The RBI announced the withdrawal of ₹2000 banknotes on May 19, 2023 (Press Release 2023-2024/257).
* The status of withdrawal is periodically published by the RBI.
* The last press release was published on January 01, 2026.
* **Facilities for Deposit/Exchange:**
* The facility for deposit and/or exchange was available at all bank branches until October 07, 2023.
* The facility for exchange is still available at the 19 Issue Offices of the RBI since May 19, 2023.
* Since October 09, 2023, RBI Issue Offices accept ₹2000 banknotes from individuals/entities for deposit.
* Members of the public can send ₹2000 banknotes through India Post to any of the RBI Issue Offices.
* **Circulation and Return:**
* ₹2000 banknotes in circulation were ₹3.56 lakh crore on May 19, 2023.
* The total value of ₹2000 banknotes in circulation has declined to ₹5,609 crore on January 31, 2026.
* 98.42% of the ₹2000 banknotes in circulation as of May 19, 2023, has been returned.
* **Legal Tender:**
* The ₹2000 banknotes continue to be legal tender.
**Impact Analysis**
**General Public**
* **Impact**
* Can continue to exchange ₹2000 banknotes at the 19 Issue Offices of the RBI.
* Can deposit ₹2000 banknotes into their bank accounts at RBI Issue Offices.
* Can send ₹2000 banknotes through India Post to any RBI Issue Office for credit to their bank accounts.
* **Action Required**
* If still holding ₹2000 banknotes, individuals can deposit or exchange them through the available channels.
**Banks**
* **Impact**
* Branches no longer required to provide deposit or exchange facilities after October 07, 2023.
* **Action Required**
* Be aware that deposit and exchange facilities are available at the 19 Issue Offices of the RBI.
**RBI Issue Offices**
* **Impact**
* Required to continue providing exchange facilities for ₹2000 banknotes.
* Required to accept ₹2000 banknotes for deposit into bank accounts.
* **Action Required**
* Maintain exchange and deposit facilities.
**India Post**
* **Impact**
* Serves as a channel for the public to send ₹2000 banknotes to RBI Issue Offices.
* **Action Required**
* Continue to facilitate the sending of ₹2000 banknotes to RBI Issue Offices.
Key Entities Referenced
₹2000 Denomination Banknotes: The subject of the withdrawal policy discussed in the press release.
Reserve Bank of India (RBI): The central bank and regulator responsible for the withdrawal of the ₹2000 banknotes.
Press Release 2023-2024/257: The initial press release announcing the withdrawal of ₹2000 banknotes.
प्रेस प्रकाशनी PRESS RELEASE
भारतीय ररज़र्व बैंक
RESERVE BANK OF INDIA
वेबसाइट
:
www.rbi.org.in/hindi
संचार वर्भाग, केंद्रीय कायाालय, शहीद भगत ससिंह मागा, फोटा, म िंबई - 400 001
Website : www.rbi.org.in Department of Communication, Central Office, Shahid Bhagat Singh Marg, Fort,
ई-मेल/email : helpdoc@rbi.org.in Mumbai - 400 001 फोन/Phone: 022 - 2266 0502
February 02, 2026
Withdrawal of ₹2000 Denomination Banknotes – Status
The Reserve Bank of India (RBI) had announced the withdrawal of ₹2000
denomination banknotes from circulation vide Press Release 2023-2024/257 dated
May 19, 2023. The status of withdrawal of ₹2000 banknotes is periodically published
by the RBI. The last press release in this regard was published on January 01, 2026.
2. The facility for deposit and / or exchange of the ₹2000 banknotes was available at
all bank branches in the country upto October 07, 2023.
3. The facility for exchange of the ₹2000 banknotes is available at the 19 Issue
Offices of the Reserve Bank (RBI Issue Offices)1 since May 19, 2023. From October
09, 2023, RBI Issue Offices are also accepting ₹2000 banknotes from individuals /
entities for deposit into their bank accounts. Further, members of the public are
sending ₹2000 banknotes through India Post from any post office within the country,
to any of the RBI Issue Offices for credit to their bank accounts.
4. The total value of ₹2000 banknotes in circulation, which was ₹3.56 lakh crore at
the close of business on May 19, 2023, when the withdrawal of ₹2000 banknotes was
announced, has declined to ₹5,609 crore at the close of business on January 31,
2026. Thus, 98.42% of the ₹2000 banknotes in circulation as on May 19, 2023, has
since been returned.
5. The ₹2000 banknotes continue to be legal tender.
(Brij Raj)
Press Release: 2025-2026/2033 Chief General Manager
1 Ahmedabad, Bangalore, Belapur, Bhopal, Bhubaneswar, Chandigarh, Chennai, Guwahati, Hyderabad, Jaipur,
Jammu, Kanpur, Kolkata, Lucknow, Mumbai, Nagpur, New Delhi, Patna and Thiruvananthapuram