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RBI Stops Printing Rs 2,000 Notes, Speeds Up Printing Of Rs 200 Notes
An Indian bank employee checks stacks of new Rs 2,000 notes. (SAM PANTHAKY/AFP/Getty Images)
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 This is close to the 15.7 billion (1,570 crore) old Rs 500 notes that were withdrawn from circulation.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.
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