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‘Printing of Rs. 2,000 notes reduced to minimum’

The printing of Rs. 2,000 banknotes, introduced post-demonetisation in November 2016, has been reduced to “minimum” by the Reserve Bank, a top finance ministry official said on Thursday.Soon after the sudden decision to ban old Rs. 500/1000 currency notes by the government, the Reserve Bank of India had come out with the Rs. 2,000 currency note along with a new look Rs. 500 note as part of its massive remonetisation exercise.The official said that the RBI and the government, from time to time, decided on the quantum of currency to be printed on the basis of money in circulation.When the Rs. 2,000 note was launched, it was decided that the printing would be “scaled down” going forward, since the new high currency value note was meant for meeting the remonetisation need.

Source : https://www.thehindu.com/todays-paper/tp-business/printing-of-rs-2000-notes-reduced-to-minimum/article25904721.ece

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