Overview

• The Reserve Bank of India (RBI) announced the withdrawal of Rs 2,000 banknotes from circulation on May 19, 2023, under its Clean Note Policy.
• As of April 30, 2025, 98.24% of the Rs 2,000 notes in circulation as of May 2023 have been returned, leaving Rs 6,266 crore still unreturned.
• The Rs 2,000 denomination remains legal tender and can be deposited or exchanged at 19 RBI issue offices or sent via India Post for credit to bank accounts.
• Originally introduced in November 2016 to meet cash demand post-demonetization, the printing of Rs 2,000 notes ceased in 2018–19 as lower denominations became sufficient.
• The withdrawal process reflects the RBI’s ongoing efforts to ensure good-quality currency and phase out less-used denominations.