The Reserve Bank of India, RBI, has said 98.21 per cent of the 2000 rupee bank notes have been returned to the banking system. On May 19, 2023, the RBI announced the withdrawal of bank notes of the 2000 Rupee denomination from circulation. The RBI said in a statement issued that the total value of 2000 Rs banknotes in circulation was 3.56 lakh crore Rs at the close of business on May 19, 2023. It has since declined to 6,366 crore Rs at the close of business on March 31 this year.

 The facility for deposit and/or exchange of the Rs 2000 banknotes was available at all bank branches till October 7, 2023. However, this facility is still available at the 19 issue offices of the Reserve Bank. People can also send Rs 2000 banknotes through India Post from any post office within the country to any of the RBI-issued offices for credit to their bank accounts. The 2000 Rs banknotes continue to be legal tender