Rs 1000 notes to get released soon
Posted on: 28/Aug/2017 12:32:12 PM
Following the introduction of new Rs 200 and Rs 50 denomination notes, the RBI is at the verge of re-introducing Rs 1000 notes that were demonetized last year.
As pre reliable sources, the wide gap between Rs 500 and Rs 2,000 denomination currencies are to be filled with the introduction of Rs 1,000 notes.
This move is however contrary to that of central bank’s earlier announcement. In February, the Economics Affairs Secretary Shaktikanta Das had announced that the RBI doesn’t have any plan to introduce Rs 1000 notes.
Prime Minister Narendra Modi, aiming to curb black money circulation and counterfeit notes, demonetized all Rs 500 and Rs 1000 notes on 8th November 2016. Following this, RBI had introduced new Rs 500 and Rs 2000 notes with added security features.
On 25th August, the central bank had issued new Rs 50 and Rs 200 notes because of lack of lesser denomination notes between Rs 100 and Rs 500.
As per reports, works to release the new Rs 1000 notes are taking place. These notes are reported to have extra security features and will be likely to get released in December this year. The Mysore and Salboni printing presses are preparing to print these new Rs 1000 notes.
