Rs 2000 notes not printed this year!
- IndiaGlitz, [Tuesday,October 15 2019]
The Rs 2000 denomination notes will come down drastically in circulation in due course of time. It's because the RBI seems to have stopped printing them altogether. As per an RTI reply, not a single note of the denomination has been printed this financial year so far.
The Bharatiya Reserve Bank Note Mudran hasn't received any orders for the notes from the RBI. Some interesting facts about the notes:
About 3,542.991 million Rs 2,000 notes were printed in 2016-17.
About 111.507 million notes in 2017-18.
About 46.690 million notes in 2018-19.
As of March 31 2018, about 3,363 million notes were in circulation.
One year later, the number came down to 3,291 million notes.
The stopping of the printing of the high-value notes is nothing but gradual demonetization. It's a sound policy.