Rs 2000 Notes Still in Circulation: How and Where You Can Exchange or Deposit Them

G GOWTHAM
Even two years after the RBI announced the withdrawal of Rs 2000 notes, many of these high-value notes are still with the public. Here’s everything you need to know.


1. How Much Rs 2000 currency Is Still Out There?

Initial circulation (Nov 2016): Nearly Rs 3.56 lakh crore

Returned since withdrawal announcement (May 2023): ~98.33%

Remaining with the public: Rs 5,956 crore


2. Are Rs 2000 Notes Still Valid?

Yes. Rs 2000 notes remain legal tender.

They can be used for transactions, though gradually being phased out.

Introduced post-demonetisation to meet immediate cash requirements.


3. Where Can You Deposit or Exchange Rs 2000 Notes?

RBI Issue Offices

19 designated RBI offices across india accept direct deposits.

Commercial Banks

Since 9 october 2023, individuals and institutions can deposit notes via regular bank channels.

India Post Services

You can send Rs 2000 notes via registered post to any RBI issue office.

Request the equivalent amount to be credited to your bank account.


4. RBI Offices Accepting Rs 2000 Notes

Ahmedabad | Bengaluru | Belapur | bhopal | Bhubaneswar
Chandigarh | chennai | guwahati | hyderabad | Jaipur
Jammu | kanpur | kolkata | lucknow | Mumbai
Nagpur | New delhi | patna | Thiruvananthapuram


5. Why Are people Still Holding Rs 2000 Notes?

Lack of awareness in rural or remote areas

Sentimental value for some indiv
iduals

Inconvenience in accessing banks or RBI offices

Cash hoarding for unreported transactions


6. What Should You Do If You Still Have Rs 2000 Notes?

Deposit them at the earliest through banks or RBI offices.

Use india Post if visiting banks or RBI offices is difficult.

While valid, fewer people are accepting Rs 2000 notes in daily transactions.


7. Bottom Line

Rs 2000 notes are gradually being phased out.

Over 98% of these notes are already returned.

Depositing or exchanging your Rs 2000 notes via official RBI channels or india Post is the safest and simplest option.


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