Mumbai | November 2, 2025 — The Reserve Bank of India (RBI) has officially confirmed that the Rs. 2,000 note continues to be legal still in 2025-2026, even as its circulation around the country has almost come to an end. As per the last RBI note status on 1 November 2025, they shared the current status of the withdrawal process that began in May 2023.
The RBI say that the value of Rs. 2,000 notes in circulation has fallen sharply from ₹3.56 lakh crore to just Rs. 5,817 crore as of October 31, 2025, meaning 98.37% of the notes have returned to the banking system.
Status of ₹2,000 Notes (As per RBI)
| Date | Total Value in Circulation | Status |
|---|---|---|
| May 19, 2023 | ₹3.56 lakh crore | Withdrawal announced |
| October 31, 2025 | ₹5,817 crore | Only 1.63% still held by the public |
| Notes Returned | 98.37% | Deposited or exchanged |
Where Can You Deposit or Send ₹2,000 Notes Now?
- The facility to deposit or exchange ₹2,000 notes at regular bank branches ended on October 7, 2023.
- Currently, deposits and exchanges are allowed only at the RBI’s 19 Issue Offices.
- Individuals can also send ₹2,000 notes through India Post to any RBI Issue Office for credit to their bank accounts.
You Still Use the ₹2,000 Note?
Yes. The RBI has clearly said the ₹2,000 note remains legal tender. This means:
- You can still pay using it if the other party is willing to accept it.
- There is no ban or demonetisation like that which happened in 2016.
- However, due to low circulation, many shops and petrol pumps may simply refuse it.
Are ATMs Still Dispensing ₹2,000 Notes?
No. ATMs have stopped providing any ₹2,000 notes. Banks now load machines only with ₹200, ₹100, and the biggest note is ₹500.
Why Has Circulation Dropped So Much?
The ₹2,000 note was introduced in 2016 after demonetisation to facilitate help and upgrade, but after 2019, the printing stopped completely. Most experts say it will demonetise soon, but it has not happened yet. With the rise in digital payments and lower demand for high-value cash, the RBI started a phased withdrawal from May 19, 2023.
What Should the Public Do?
- If you still have a ₹2,000 note, you can use it, deposit it at an RBI office, or send it via post.
- There is no deadline announced yet, but the RBI’s latest update indicates that the note is now rarely in circulation.
How to Deposit ₹2,000 Notes at RBI
- ₹2,000 notes are still valid, but if you want to deposit them, the RBI offices are the way.
- Visit any RBI Issue Office in your city.
- Carry:
- Your notes – Rs. 2,000 (No question asked)
- ID proof (Aadhaar, PAN, or other)
- Bank account details (passbook or account number + IFSC)
- Fill out a short deposit form at the counter.
- Submit the form and notes — the money goes directly to your bank account. No cash is returned.
- Amount is usually credited in a few working days.
- Or, send notes through India Post to an RBI office with an ID copy and bank details.
As of now, the note of ₹2,000 is still valid — but quietly fading out of daily life.
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