The Reserve Bank of India (RBI) has provided an updated status on the withdrawal of the Rs 2000 denomination banknote, answering the common question: where has all the pink cash gone?
According to data released on October 31, 2025, the vast majority of the Rs 2000 denomination notes are now back in the banking system.
Tracking the Change
The data clearly shows the success of the central bank’s initiative to withdraw the Rs 2000 denomination banknotes from circulation.
When the Reserve Bank of India (RBI) first announced the plan to phase out the currency on May 19, 2023, the total value of the pink banknotes in circulation was Rs 3.56 lakh crore.
According to the RBI, by October 31, 2025, this figure came down to Rs 5,817 crore. This significant reduction indicates the near-complete withdrawal of the banknotes from public use.
What does this figure mean for the public?
This implies that banks and RBI offices have already successfully received a staggering 98.37% of the notes. The fact that so little remains in circulation suggests the note has largely disappeared from daily transactions.
Is the Rs 2000 Note Still Valid? And where can I still exchange it?
Despite the withdrawal from circulation, the Rs 2000 banknote continues to be legal tender. It means you don’t need to worry about the notes losing their value.
The initial period for returning the notes at all bank branches across the country ended on October 7, 2023.
Current Exchange and Deposit Facilities
If you still possess the notes, you have two primary methods for returning them to the RBI:
RBI Issue Offices: The facility to exchange the notes remains available at the 19 Issue Offices of the Reserve Bank of India (RBI Issue Offices). Furthermore, since October 9, 2023, these offices also allow individuals and entities to deposit the Rs 2000 banknotes directly into their bank accounts.
Mail Option: For convenience, members of the public can also send the Rs 2000 banknotes via India Post (from any post office) to any of the RBI Issue Offices. The value will be credited to your bank account.