RBI stops printing Rs. 2000 currency notes
Posted on: 26/Jul/2017 12:40:25 PM
The Reserve Bank of India has stopped the printing of the currency notes of Rs. 2000 denomination. So, the Mysuru Printing Press has stopped the printing of Rs. 2000 currency notes. Instead, it has switched focus on the printing of the new Rs. 200 currency notes,
As it was decided to release the new Rs. 200 currency by the next month, it is understood that the printing of Rs. 2000 currency notes have been stopped.
Following the demonetization of the old Rs. 1000 and Rs. 500 currency notes, RBI initiated to print 3.7 billion of the new Rs. 2000 currency notes totally worth Rs. 7.1 trillion. It is understood that this printing was highly expedited in order to overcome the then prevalent acute shortage of currency notes.
As per the statistics given by the Reserve Bank of India, the money in circulation as up to 14th July is Rs. 15.22 trillion.
In order to release the new Rs. 200 currency notes from the next month, 1 billion notes of Rs. 200 denominations are being printed.
In order to overcome the present shortage of Rs. 2000, larger quantities of Rs. 500 currency notes are being printed.
The State Bank of India has informed that the RBI has increased the circulation of more Rs. 500 currency notes over the last 40 days.
