Rs 2000 Notes: Exchange Update for 2026! RBI Clarifies Legal Tender Status

• RBI announced the withdrawal of Rs 2,000 banknotes from circulation on May 19, 2023.
• The notes were introduced in November 2016 to meet currency requirements after the withdrawal of Rs 500 and Rs 1,000 notes.
• 98.41% of Rs 2,000 banknotes in circulation as of May 19, 2023, have been returned, with only Rs 5,669 crore remaining by December 31, 2025.
• Rs 2,000 banknotes continue to be legal tender, despite withdrawal from circulation.
• Exchange facility at bank branches ended on October 7, 2023; direct exchange is available at 19 RBI Issue Offices or via India Post.

Why It Matters: Rs 2,000 notes remain legal tender; exchange at RBI Issue Offices or via India Post is still possible.