Archive · 9 Jan 2026
RBI Update on Rs 2000 Note Exchange in 2026
The Reserve Bank of India (RBI) announced in 2023 that Rs 2000 notes would be withdrawn from circulation.
As of 2026, over 98% of these notes have been returned.
The notes are still legal tender, but you can no longer exchange them at regular banks.
Instead, you can exchange them at any of the 19 RBI Issue Offices or send them via India Post to these offices.
The RBI has provided this facility to ensure that people can still deposit or exchange their Rs 2000 notes.
The RBI announced the withdrawal of Rs 2000 notes from circulation on May 19, 2023.
Over 98% of Rs 2000 notes have been returned to the RBI as of December 31, 2025.
Rs 2000 notes continue to be legal tender.
The facility to exchange Rs 2000 notes at bank branches ended on October 7, 2023.
People can still exchange Rs 2000 notes at 19 RBI Issue Offices or send them via India Post.
- Who
- Reserve Bank of India (RBI)
- What
- Withdrawal and exchange of Rs 2000 banknotes
- When
- Withdrawal announced on May 19, 2023; update as of January 9, 2026
- Where
- India
- Why
- To meet immediate currency requirements post-demonetization and subsequently phase out the denomination
- Withdrawal Announcement Date
- May 19, 2023
- Total Value in Circulation (May 19, 2023)
- Rs 3.56 lakh crore
- Remaining Value in Circulation (December 31, 2025)
- Rs 5,669 crore
- Percentage of Notes Returned
- 98.41%
- Legal Tender Status
- Yes
- Exchange Facility End Date at Banks
- October 7, 2023
- Current Exchange Facility
- RBI Issue Offices and India Post
- Number of RBI Issue Offices
- 19