New Rs 1000 currency note to be released in new avatar
Posted on: 22/Feb/2017 11:19:22 AM
It is understood that the Reserve Bank and Central Government is getting ready to release the new 1000 rupee note in a new avatar.
When the demonetization was announced the old Rs 1000 and Rs 500 currency notes became invalid. In lieu of this, the RBI had released new Rs 2000 and Rs 500 notes. The new notes were being issued to replace Rs 15.44 lakh crore worth of demonetized currency notes. As on January 27, notes in circulation, comprising all denominations including Rs 2,000 and Rs 500, were Rs 9.92 lakh crore. But Reserve Bank is not confirming this.
From yesterday, the RBI has permitted to withdraw Rs 50000 from the savings bank account, Effective March 13 all limits on cash withdrawal from savings bank accounts will be removed.
At this juncture, in lieu of the invalid Rs 1000 note a newly designed Rs 1000 notes are to be introduced. The printing of these new 1000 rupee notes have already begun. It is not known when the new 1000 rupee note will be reintroduced.
