RBI stops the printing of Rs. 2000 currency notes
Posted on: 14/Oct/2019 5:31:41 PM
The Reserve Bank of India has officially announced that it will stop the printing of Rs. 2000 currency notes.
During the year 2016, the central government announced the demonetization of Rs. 500 and Rs. 1000 currency notes with the main objective of eliminating black money circulation as well to prevent fake notes in circulation. Subsequently, the Reserve Bank of India released the new currency notes of Rs. 2000 denomination.
There were recent complaints that Rs. 2000 currency notes are not easily available in ATMs. Due to this, there were sporadic rumors in the social networking media and the internet that there would be another demonetization and the public needed to change all Rs. 2000 notes in their possession! However, the Reserve Bank of India gave the news urging the public not to believe such rumors and there are absolutely no such plans.
In this situation, questions were raised under RTI (Right To Information) regarding the exact status of Rs, 2000 notes.
The Reserve Bank of India had replied:
After the demonetization, Rs. 2000 currency notes were printed in the years 2016-17 (for a value of Rs. 354 Crores) and 2017-18 (for a value of Rs. 116 Crores). However, not even a single note was printed in the financial year 2019-20.
Further, RBI has informed us that it has stopped printing notes of Rs. 2000 with a view to encourage digital transactions and also prevent/reduce corruption.
