2000 rupee notes printing stopped?
- IndiaGlitz, [Friday,January 04 2019]
Launched on November 2016 following the shocker of an announcement from Indian Prime Minister Narendra Modi demonetizing 500 and 1000 rupee notes, the 2000 rupees notes printing has been stopped now as per reports. Besides 2000 rupees notes, a new 500 rupee note was also launched, but now, the printing of 2000 rupee notes have been reduced reportedly.
While the new notes were introduced in an attempt to curb black money, now it has been suspected by the Modi led central government that the 2000 rupees notes are being most used in money laundering and tax evasion purposes,and this has been speculated to be the reason for stoppage of printing of new 2000 rupee notes further.
The 2000 rupee notes in circulation, as of March 2018 was at a massive 6.7 lakh crores, which was 37% of the total currency circulation, and in this situation, this move has been made. However, RBI officials state that such reduction in the quantity of printing is done regularly by the government and Reserve Bank, depending on an analysis of money in circulation.