2000 notes: 2000 rupee notes are still legal tender, meaning they are valid for payment. However, they are no longer accepted for regular transactions at most bank branches or retail outlets.
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2000 notes: The 2000 rupee note is no longer in circulation in the country. The Reserve Bank of India decided to withdraw it from circulation in May 2023. Although 2000 rupee notes remain legal tender, they are no longer used for transactions.
So, if you still have 2000 rupee notes lying around in your home, shop, or business, the RBI has advised you to return them immediately. Although the Reserve Bank began withdrawing these high-value notes in May 2023, approximately ₹6,000 crore worth of currency remains in circulation more than two years later.
RBI Removing Old Notes from the System
The RBI has clarified that 2000 rupee notes are still legal tender, meaning they are valid for payment. However, they are no longer accepted for regular transactions at most bank branches or retail outlets. As of October 31, 2025, approximately 98.37% of the ₹2,000 notes in circulation have now been withdrawn.
This withdrawal is part of the RBI’s “Clean Note Policy,” which aims to remove old and infrequently used notes from the system. Printing of ₹2,000 notes was discontinued after the 2018-19 financial year due to their low usage in daily transactions.
Where can I deposit the notes?
The facility to deposit or exchange ₹2,000 notes at commercial bank branches ended on October 7, 2023. Currently, the exchange facility is available only at 19 RBI corporate offices across the country. You can send ₹2,000 notes from any post office in the country to any of the RBI’s corporate offices to deposit them into your bank account. These 19 offices are located in major cities like Ahmedabad, Bengaluru, Hyderabad, Jaipur, Kanpur, Kolkata, Lucknow, Mumbai, Patna, New Delhi, and Chennai. In Uttar Pradesh, there are corporate offices in major cities like Kanpur and Lucknow.
Documents for Deposit
According to a circular from RBI Chief General Manager (CGM) Brijraj, depositors must bring their Aadhaar card and bank account details as proof of identity to confirm that the amount is credited to the correct account. The Regional Director of RBI in Lucknow said that you will be given a form in the branch, which will have to be filled and submitted along with the note and ID proof.
There’s no need to be confused
People are still confused about the 2000 rupee note. They believe that due to the delay, these notes may be rejected or their value may decrease, but this is not the case. The RBI has appealed to the public to use the special exchange counters set up in its regional offices to deposit any remaining notes.
These notes were issued in November 2016 under Section 24(1) of the Reserve Bank of India Act, 1934. Their printing was discontinued in 2018-19. They were issued to meet the country’s currency needs during demonetization, when old 500 and 1000 rupee notes were discontinued.
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