Saturday, Sep 24, 2022

No plans to introduce Rs 1,000 notes, clarifies Shaktikanta Das

After the Centre announced the move to demonetise old currency notes of Rs 500 and Rs 1,000 to flush out black money from the economy, the government had introduced new Rs 500 and Rs 2000 notes with higher security features.

shaktikanta das, Rs 1000 note, reserve bank, RBI, 1000 note, 1000 currency note, old 1000 note, new 1000 note, Rs 1000 currency note, Rs 2000 note, Rs 500 note Economic Affairs Secretary, Shaktikanta Das (File Photo)

Economic Affairs Secretary Shaktikanta Das clarified that the government has no plans to introduce new currency notes of Rs 1,000 denomination. In a tweet, he added that the focus presently is on production and supply of Rs 500 currency notes and those of lower denomination.

A senior government official had told The Indian Express that the RBI and the government are planning to launch a new series of new Rs 1,000 notes although it was not clear when they would be launched. Although the initial plan was to introduce the new Rs 1,000 note in January, the official said it has been delayed due to the ‘pressing need to supply Rs 500 notes.”

 

After the Centre announced the move to demonetise old currency notes of Rs 500 and Rs 1,000 to flush out black money from the economy, the government had introduced new Rs 500 and Rs 2,000 notes with higher security features. The value of demonetised currency notes stood at Rs 15.44 lakh crore, the Reserve Bank said although it has not mentioned how much money has been deposited into bank accounts post demonetisation. On February 11, when he was asked when would the RBI release data on the old notes of Rs 500 and Rs 1,000 deposited in banks, RBI Governor Urjit Patel said that the central bank will provide a number which is verifiable and not merely an estimate.

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First published on: 22-02-2017 at 11:04:36 am
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