RBI halts printing of Rs 2,000 notes
DSIJ Intelligence / 26 Jul 2017
A leading news agency has reported that the Reserve Bank of India (RBI) may stop printing any further notes of Rs 2,000, focusing instead on lower denomination notes such as of Rs 200.
A leading news agency has reported that the Reserve Bank of India (RBI) may stop printing any further notes of Rs 2,000, focusing instead on lower denomination notes such as of Rs 200. The Rs 2,000 note was introduced in November last year. Around 3.7 billion Rs 2,000 notes, amounting to Rs 7.4 trillion, have been printed so far, which adequately compensates the Rs 6.3 trillion Rs 1,000 notes that were withdrawn from November 8 following the government’s demonetisation move.
According to RBI data, the total currency in circulation as on July 14 stood at around Rs 15.22 trillion, which is about 86% of the Rs 17.7 trillion that was in circulation on November 4. The printing of new Rs 200 notes has been started at the RBI’s Mysuru printing press and it is expected that the note may come into circulation by next month.
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