The Reserve Bank of India (RBI) announced that 98.21% of ₹2000 banknotes have been returned to the banking system as on March 31, 2024. On May 19, 2023, the RBI declared the withdrawal of ₹2000 notes from circulation. At that time, ₹3.56 lakh crore worth of ₹2000 notes were in circulation, which has now reduced to ₹6,366 crore as of March 31, 2024.
The deposit and exchange facility at bank branches was available until October 7, 2023, but remains open at 19 RBI issue offices. People can also send ₹2000 notes via India Post for credit to their bank accounts. Despite withdrawal, ₹2000 notes remain legal tender.
