Published: Sat, January 05, 2019
Finance | By Jaime Brady

Government says no decision regarding Rs 2,000 note production recently

Government says no decision regarding Rs 2,000 note production recently

"There has been no recent decision regarding Rs 2,000 note production", Garg said in his tweet.

Economic Affairs Secretary Subhash Chandra Garg said that printing of notes is planned per projected requirement and now, over 35 per cent of the notes in circulation are those of Rs 2,000.

The Rs 2,000 note was introduced in November 2016, after the government banned the circulation of Rs 1,000 and Rs 500 denominations.

The comment comes a day after a media report, which stated that the government has stopped printing Rs 2,000 notes and plans to phase it out.

"I think we would have had significantly better outcomes, if we had just thought about simple things".

The Rs 2,000 note was introduced in November 2016 after demonetisation.

Pompeo discusses Syria troop withdrawal with Netanyahu
As he spoke, supporters began to chant "Myth!" "Our flag will never be red", Bolsonaro said , a reference to communism. Mr Bolsonaro then read a short speech that included numerous far-right positions he staked out during the campaign.

Twitterstorm as Floyd Mayweather Floors Kickboxer Half His Weight in 2 Minutes
The two took part in an exhibition fight that was clouded in uncertainty as to whether or not it was ever going to really happen. The fight was the conclusion of a freaky buildup that featured Mayweather repeatedly claiming it was off and then back on again.

Trump asks congressional leaders to return for shutdown talks Friday -lawmaker
Trump could actually make this worse by offering something like a DACA deal and daring Democrats to reject it. But the Republican-led Senate appears unlikely to consider the Democratic funding bills.

During the same period, the income tax department seized massive amounts of Rs 2,000 notes.

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.

As of March 2018, Rs 6.73 lakh crore - 37% of the total value of currency in circulation - was in the Rs 2,000 denomination. However, the latest RBI report released in August 2018, revealed that only 7.8 crore notes of Rs 2000 denomination were added in 2017-18, taking the overall circulation to 336.3 crore, as of March 2018.

Why Rs 2000 Currency Is Being Stopped?

Soon after the ₹2,000 note-the highest denomination in circulation currently-was introduced in November 2016, TV channel ZEE informed viewers that the banknotes had "state of art nano Global Positioning System chips".

The old Rs 500/1000 notes that were scrapped due to demonetisation accounted for around 86% of the total currency in circulation at that time.

Like this: