The Reserve Bank of India (RBI) has taken multiple measures to phase out the ₹2000 note from circulation, but as of the latest data, about 2% of ₹2000 notes-amounting to ₹6,970 crore-still remain outside the banking system, therefore with the public.

RBI had introduced ₹2000 notes during the 2016 demonetization drive to meet the urgent cash demand. However, the central bank announced the phasing out of ₹2000 notes on May 19, 2023, as these notes are no longer essential to meet currency needs. Although ₹2000 notes continue to be a legal tender, RBI has stopped printing of this denomination since 2018-19. 

The central bank had announced an initial deadline of September 2023 to exchange these notes at any bank branch, and later extended it to October 7, 2023.
Yet, according to a recent RBI notification, only 98% of the notes have come back to the banking system. Though the deadline for exchanging ₹2000 notes is over, these notes still can be exchanged legally with certain limitations.
Here's an updated guide on how to exchange or deposit these notes, along with useful resources to locate RBI offices and other information.

Step-by-Step Guide to Exchange ₹2000 Notes

Option-1: Through RBI Issue Offices
The public can exchange ₹2000 notes in any of the 19 RBI Issue Offices located in Ahmedabad, Bengaluru, Belapur, Bhopal, Bhubaneswar, Chandigarh, Chennai, Guwahati, Hyderabad, Jaipur, Jammu, Kanpur, Kolkata, Lucknow, Mumbai, Nagpur, New Delhi, Patna, and Thiruvananthapuram. 

The public can get the address and working hours of the Issue offices on the RBI website under the "Office" tab. Sunday is a holiday for most RBI Issue offices, while Saturday is closed for public cash counter services.

The public can exchange ₹2000 notes by submitting the prescribed form. The form to exchange the ₹2000 notes can be downloaded from the "Forms" section under the "Miscellaneous Forms" heading on the RBI's new website.
The public needs to carry any government-issued ID proof, such as Aadhaar or PAN card, with them to expedite the process.

Option-2: Through Post Offices
According to the RBI notification, members of the public within the country can send ₹2000 banknotes through India Post from any post office in the country to any of the RBI Issue Offices for credit to their bank accounts in India.

The RBI requires the depositor to submit a specified application form and certain valid documents while sending the ₹2000 notes through the Post Office.

Below is the list of Identification Documents that can be used:

• Aadhaar Card
• PAN Card
• Voter ID Card
• Passport
• Driving License
• NREGA Card
• Identity Card issued by any Government Department

The post should also include a copy of the depositor's bank account statement that has the account details or the first page of the bank passbook with account details, along with the form and notes. The account details should include the Name of the account holder, Account number, Type of account, Bank name, Branch name/address with IFSC Code. Further, RBI mandates that the account for crediting the exchange amount should be fully KYC-compliant.