The high-value Rs 2000 notes worth Rs 5,884 crore are still in circulation, according to official data released on Wednesday.
The Reserve Bank of India (RBI) had announced the withdrawal of Rs 2000 denomination banknotes from circulation on May 19, 2023.
Rs 2000 banknotes continue to be legal tender.
In a statement, the central bank said the total value of Rs 2000 banknotes in circulation, which was Rs 3.56 lakh crore at the close of business on May 19, 2023, has declined to Rs 5,884 crore at the close of business on September 30, 2025.
"Thus, 98.35 per cent of the Rs 2000 banknotes in circulation as on May 19, 2023, have since been returned," it said.
The facility for exchange of the Rs 2000 banknotes is available at the 19 issue offices of the RBI since May 19, 2023.
From October 9, 2023, RBI issue offices are also accepting Rs 2000 banknotes from individuals/entities for deposit into their bank accounts.
Further, the public can send Rs 2000 banknotes through India Post from any post office within the country, to any of the RBI issue offices for credit to their bank accounts.
The issue offices are in Ahmedabad, Bengaluru, Belapur, Bhopal, Bhubaneswar, Chandigarh, Chennai, Guwahati, Hyderabad, Jaipur, Jammu, Kanpur, Kolkata, Lucknow, Mumbai, Nagpur, New Delhi, Patna, and Thiruvananthapuram.