April 04, 2020
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No Decision On Printing Rs 2000 Notes, Have Adequate In System: Economic Affairs Secretary

"We have more than adequate notes of Rs 2,000 in the system with over 35 per cent of notes by value in circulation being of Rs 2,000," Economic Affairs Secretary Subhash Chandra Garg said.

No Decision On Printing Rs 2000 Notes, Have Adequate In System: Economic Affairs Secretary
No Decision On Printing Rs 2000 Notes, Have Adequate In System: Economic Affairs Secretary
outlookindia.com
2019-01-04T13:11:39+0530

The government on Friday indicated that printing of Rs 2,000 bank notes, introduced post-demonetisation in November 2016, has been stopped for now as there is enough stock in circulation.

In a tweet, Economic Affairs Secretary Subhash Chandra Garg said printing of notes is planned as per the projected requirement.

"We have more than adequate notes of Rs 2,000 in the system with over 35 per cent of notes by value in circulation being of Rs 2,000.

"There has been no decision regarding 2,000 rupee note production recently," the Secretary said.

Soon after the sudden decision to ban old Rs 500 and Rs 1,000 currency notes by the government, the Reserve Bank had come out with the 2,000 rupee note along with a new look 500 rupee note as part of its massive remonetisation exercise.

The old Rs 500/1,000 bank notes that were scrapped in November 2016 accounted for around 86 per cent of the total currency in circulation at that time.

 

(PTI)

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