New currency notes of Rs. 1000 to be in circulation be next month end
Posted on: 30/Jan/2017 5:29:41 PM
Immediately after the demonetization announcement that the old currency notes of Rs. 500/- and Rs. 1000/- as invalid, the central government released new currency notes of Rs. 500/- and Rs. 2000/- denominations.
However, util now, new currency notes of Rs. 1000/- have not been released. Also, there was no official announcement regarding this. It is well-known that the public has been facing severe hardships with the circulation of Rs. 2000/- notes as change for the same was not easily available. Further, the regulations for the financial transactions are yet to be completely announced.
In this scenario, the restrictions already imposed have not been removed yet. There is a restriction on withdrawing money from ATMs as well.Now, the news is gathered that the central government has planned to release the new currency notes of Rs. 1000/- in circulation.
The new currency notes of Rs. 1000/- are expected to be in circulation by end February or the start of March. It is also gathered that the existing restrictions on transactions will be removed at that time.A tender has been floated on behalf of the Bharatiya Reserve Bank Private Limited, a branch of the Reserve bank of India to the air cargo agencies in the country to carry the published currency notes printed in Mysore and Nasik by flight. This is construed as a preparation for the recently to be released new currency notes of Rs. 1000/-.
The circulation of the new currency notes of Rs. 1000/- will certainly help in a considerable reduction of the severe transaction problems currently encountered by the public. It is also gathered that the limit for withdrawing cash from ATMs can be increased up to Rs. 24000/-.The history of the printing of Rs. 1000/- currency notes (4th time now)
The first time of the printing of Rs. 1000/- currency note was in the year 1938 when India was under the British Rule/ The new series of Rs. 1000/- currency notes were printed for the second time in the year Rs. 1946. The next time printing was during the year 1964. However, these were withdrawn in the year 1978.
The next time of Rs. 1000/- currency notes were in the year 2000 (November). These notes were withdrawn and declared invalid during November 2016. So, the currency notes of Rs. 1000/- will now be printed for the 4th time.
