Insta
RBI Stops Printing Rs 2,000 Notes, Speeds Up Printing Of Rs 200 Notes
Swarajya Staff
Jul 25, 2017, 09:42 PM | Updated 09:42 PM IST
Save & read from anywhere!
Bookmark stories for easy access on any device or the Swarajya app.
It has been five months since the Reserve Bank of India (RBI) stopped printing the Rs 2,000 notes that were introduced in November last year, reports Mint. Sources in the RBI say that the central bank has increased the quantity of notes being printed in other denominations, including the Rs 200 note, which is to be introduced soon.
RBI sources have indicated that around 3.7 billion (370 crore) Rs 2,000 notes, amounting to Rs 7.4 trillion (Rs 7.4 lakh crore), have been printed, a figure that matches up to the 6.3 billion (630 crore) Rs 1,000 notes that were scrapped during demonetisation. Approximately 90 per cent of the notes that are being printed now are the new Rs 500 notes, with nearly 14 billion (1,400 crore) new notes having been printed so far. This is close to the 15.7 billion (1,570 crore) old Rs 500 notes that were withdrawn from circulation.
Sources from the RBI’s security press in Mysuru have indicated that Rs 200 notes have been in print for a while and will be in circulation soon. The RBI had approved the proposal for introducing the new denomination currency notes in April. Around one billion (100 crore) notes are expected to be released into circulation in the first round.
Save & read from anywhere!
Bookmark stories for easy access on any device or the Swarajya app.
Support Swarajya's 50 Ground Reports Project & Sponsor A Story
Every general election Swarajya does a 50 ground reports project.
Aimed only at serious readers and those who appreciate the nuances of political undercurrents, the project provides a sense of India's electoral landscape. As you know, these reports are produced after considerable investment of travel, time and effort on the ground.
This time too we've kicked off the project in style and have covered over 30 constituencies already. If you're someone who appreciates such work and have enjoyed our coverage please consider sponsoring a ground report for just Rs 2999 to Rs 19,999 - it goes a long way in helping us produce more quality reportage.
You can also back this project by becoming a subscriber for as little as Rs 999 - so do click on this links and choose a plan that suits you and back us.
Click below to contribute.