Archive · 2 Aug 2025
How to Exchange or Deposit Rs 2,000 Notes Now
The Indian central bank, the RBI, removed the large Rs 2,000 notes.
Although banks no longer exchange them, people can still exchange them at RBI offices in different cities.
If people don't live near an office, they can mail their notes through the post office and have the money put in their bank accounts.
The RBI took this action to remove old or infrequently used notes and because smaller notes became available.
Banks stopped exchanging Rs 2,000 notes on October 9, 2023.
The RBI withdrew Rs 2,000 notes under its 'Clean Note Policy'.
Rs 2,000 notes can still be exchanged at 19 RBI issue offices.
Notes can be deposited or credited to a bank account at RBI offices.
Rs 2,000 notes can be sent to RBI offices via post for account credit.
- Who
- Reserve Bank of India (RBI).
- What
- Exchange and deposit options remain for Rs 2,000 notes.
- When
- Withdrawal announced on May 19, 2023; banks stopped exchange on October 9, 2023.
- Where
- India, at 19 RBI issue offices.
- Why
- To phase out old denominations and due to the availability of smaller notes.
Citizens
RBI
Response to the Withdrawal
Citizens
Concerned about the withdrawal of Rs 2,000 notes and the process.
RBI
Accepting the RBI's decision and following the guidelines.
- Withdrawal Announcement Date
- May 19, 2023
- Banks Stopped Exchange
- October 9, 2023
- Total Value in Circulation (May 19, 2023)
- Rs 3.56 lakh crore
- Percent Returned
- Over 98.31%
- Exchange Locations
- 19 RBI issue offices
