Do you still have Rs 2,000 bank note? Check what RBI says about its legal validity and how to exchange

Rs 2000 bank notes

• Over 98 percent of Rs 2000 notes have been returned since withdrawal in 2023
• Rs 2000 notes remain legal tender but must be exchanged at RBI Issue Offices
• Send notes to RBI via India Post for account credit; bank branch exchange ended.

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Amid slew of money changes that have come into force from January 1st, the Reserve Bank of India has given a key update on Rs 2,000 currency notes. Three years after the central bank had announced the withdrawal of these currency notes, the latest official data suggests that a small percentage of the bank notes are still in circulation.

On Thursday, the RBI released a bulletin regarding the status of Rs 2000 notes. "The total value of Rs 2000 banknotes in circulation, which was Rs 3.56 lakh crore at the close of business on May 19, 2023, when the withdrawal of Rs 2000 banknotes was announced, has declined to Rs 5,669 crore at the close of business on December 31, 2025," the central bank said in a January 1st update.

This means that over 98 per cent of these high-value banknotes, which were in circulation as of May 19, 2023, have since been returned to the central bank. However, a miniscule number of notes are either still in circulation or are in possession of individuals.

So, big question - Are Rs 2,000 bank notes illegal now? The answer - No. The RBI has clarified that Rs 2,000 bank notes, despite the withdrawal order, still remain a legal tender. So, this means in case an individual still holds a Rs 2000 note, it is not a crime. However, one must return the note to the central bank.

How to Exchange Rs 2000 Banknotes: Step-by-Step Guide

Step 1: Note the closure of bank branch facility

The facility to deposit or exchange Rs 2000 banknotes at all bank branches across India ended on October 7, 2023.

Step 2: Use RBI Issue Offices for deposit

From October 9, 2023, individuals and entities can deposit Rs 2000 banknotes into their bank accounts at any of the RBI's 19 Issue Offices.

Step 3: Exchange notes directly at RBI Issue Offices

The RBI also provides a direct exchange facility at its 19 Issue Offices for anyone still holding Rs 2000 notes.

Step 4: Send notes via India Post for account credit

Members of the public can send Rs 2000 banknotes through India Post from any post office in India to an RBI Issue Office for credit into their bank accounts.

Step 5: Know where RBI Issue Offices are located

The RBI Issue Offices are located in Ahmedabad, Bangalore, Belapur, Bhopal, Bhubaneswar, Chandigarh, Chennai, Guwahati, Hyderabad, Jaipur, Jammu, Kanpur, Kolkata, Lucknow, Mumbai, Nagpur, New Delhi, Patna and Thiruvananthapuram.