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'No decision on printing 2,000 rupee notes'

Friday, January 4, 2019 • Tamil Comments
Diya Harini
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No decision on printing 2,000 rupee notes

There have been media reports that no new Rs 2000 notes will be printed any more.  In this regard, Subhash Chandra Garg, Secretary in the Ministry of Finance, has today said that there is no decision in place regarding the high-denomination notes.  He has given a reason for that.  

"Printing of notes is planned as per the projected requirement. We have more than adequate notes of Rs 2000 in the system with over 35% of notes by value in circulation being of Rs 2000. There has been no decision regarding 2000 rupee note production recently," he said.

Quoting RBI data, it's held that 3,285 million Rs 2000 notes were in circulation as of the end of March 2017.  In March 2018, the number stood at 3,363 million notes, which only means that the printing of new notes hadn't been buoyant.  It's said that printing of new notes is almost zilch for a few months now.

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