The Reserve Bank of India announced that most ₹2000 banknotes withdrawn from circulation have returned to the banking system, while the denomination remains legal tender.

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•  The Reserve Bank of India stated that approximately 98.44 percent of ₹2000 banknotes withdrawn from circulation have been returned to the banking system.
•  The value of ₹2000 notes in circulation has declined significantly since the withdrawal announcement made by the central bank in May 2023.
•  Despite their withdrawal from active circulation, the ₹2000 denomination continues to remain legal tender and can still be used for transactions.
•  The central bank introduced the withdrawal measure as part of its currency management strategy to streamline the circulation of banknotes.
•  Citizens were earlier allowed to exchange or deposit ₹2000 banknotes at bank branches across the country within a specified time period.
•  Currently, individuals can deposit or exchange these notes only at designated offices of the Reserve Bank of India.
•  People can also send ₹2000 banknotes through postal services to RBI issue offices for depositing the value directly into their bank accounts.
•  The high return rate of these notes indicates effective public participation and compliance with the currency withdrawal process.