Printing of Rs 2000 notes scaled down; here’s what Modi govt has to say

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Published: January 4, 2019 1:48:12 PM

The RBI has scaled down the printing of Rs 2,000 note, introduced after demonetisation. Here's what the government has to say.

has scaled down the printing of Rs 2,000 note, introduced after demonetisation.The RBI has scaled down the printing of Rs 2,000 note, introduced after demonetisation. (Image: PTI)

After the news that the Reserve Bank of India (RBI) has scaled down the printing of Rs 2,000 note, the government tried to allay fears by saying that there is adequate number of notes in the circulation. On Thursday, PTI reported that the central bank has scaled down the printing of Rs 2,000 note, introduced after demonetisation.

“Printing of notes is planned as per the projected requirement. We have more than adequate notes of Rs 2000 in the system with over 35% of notes by value in circulation being of Rs 2000,” DEA Secretary Subhash Chandra Garg said.

“There has been no decision regarding 2000 rupee note production recently,” he added.

A Finance Ministry official told the news agency that scaling down of printing of Rs 2,000 note was decided during its launch after the noteban. New Rs 500 and Rs 2,000 notes were launched after old Rs 5,00 and Rs 1,000 notes were banned.

Earlier, this year media reports said that cash crunch was witnessed in some states due to the fewer number of Rs 2,000 notes available in circulation. Rumours of Rs 2,000 note being withdrawn from the circulation then also started spreading.

However, then the government then had clarified that there was no proposal to withdraw the high-value notes.

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