₹2,000 notes not in circulation but still legal tender: RBI Governor

Reserve Bank of India Governor Sanjay Malhotra clarified that while ₹2,000 currency notes are no longer in circulation, they remain legal tender. He made the statement while briefing the Parliamentary Standing Committee on Finance about the Indian economy’s growth.

Several Members of Parliament questioned the status of the ₹2,000 notes during the parliamentary committee meeting. The RBI has not yet declared them invalid.

One MP also raised concerns about the circulation of counterfeit currency, stating that



agencies had seized 1.12 lakh fake ₹500 notes. The member, however, noted that, considering over six crore such notes are in circulation, the proportion of fakes is relatively low.

In response, the RBI governor acknowledged the issue and said that the number of counterfeit ₹500 denomination notes has surged by 37 per cent. He assured that both the central bank and the government are committed to tackling counterfeit currency and are continually taking steps to curb such activities.