More Than Adequate 2,000 Rupee Notes In System, Says Government

RBI Scales Down Printing of Rs 2000 Currency Note to 'Minimum'

RBI Scales Down Printing of Rs 2000 Currency Note to 'Minimum'

"There has been no recent decision regarding Rs 2,000 note production", Garg said in his tweet.

A report had said on Thursday that the government had stopped printing the Rs 2,000 currency notes in a bid to slowly reduce their circulation.

Most of the black money being circulated right now is in Rs 2000 currency notes, and Govt. wants to stop this.

When the ₹2,000 note was launched, it was decided that the printing would be "scaled down" going forward, since the new high currency value note was meant for meeting the remonetisation need.

OU head coach Lincoln Riley talks about emotional loss in Orange Bowl
Murray read the Alabama defense and took off for an 8-yard touchdown with 4:23 left in the fourth quarter. The Tigers are going to score and that's going to keep them in the game from the jump.

Since the Prime Minister had argued that withdrawing the high value currencies would make it hard for people to hoard cash, critics had asked how it squared up with issuing notes carrying double the value. He claimed that the government had chose to reduce the printing of Rs 2,000 notes at the time of their launch itself.

In April 2018, there was an acute shortage of cash. The government suspected cash hoarding ahead of state elections, as well as stocking of money by people in the aftermath of the PNB-Nirav Modi bank fraud. Citing sources, a report in ThePrint claimed that to lower the circulation printing of Rs 2000 banknotes has been stopped. This was immediately followed with the introduction of Rs 2,000 note by RBI the same evening.

The high-value currency was introduced in November 2016, when the government scrapped the old 500/1000 bank notes. Of the total currency in circulation amounting to Rs 18,037 billion at the end of March 2018, Rs 2000 notes accounted for 37.3 per cent, down from 50.2 per cent at the end of March 2017. 43% of the overall currency, whose value is 7.73 trillion is in Rs 500 currency note.

Recommended News

  • Warriors let RFA McCaw join Cavaliers

    Warriors let RFA McCaw join Cavaliers

    It's not immediately clear when McCaw will play for the Cavaliers, who have dropped six straight and have the NBA's worst record at 8-29.
    Tom Brady Makes Major Announcement About His Future

    Tom Brady Makes Major Announcement About His Future

    While his contract is up after the 2019 season, Brady is likely to sign a new one with the Patriots. I wake up every day excited to go to work. fulfilled.
    Hypersonic Avangard missile 'great victory': Putin

    Hypersonic Avangard missile 'great victory': Putin

    The Avangard is a hypersonic warhead re-entry vehicle that is created to outpace and outmaneuver US missile defense systems. After being launched on a ballistic missile, it is created to fly horizontally while bypassing the enemy's missile defense.
  • Two women enter flashpoint India temple

    Two women enter flashpoint India temple

    Despite the ban being overturned in September , no women have been able to enter the temple until now because of massive protests. The women, who are now under police protection, can be seen leaving the shrine in videos that have been circulating on WhatsApp.
    Serena Williams named 2018 AP Female Athlete of the Year

    Serena Williams named 2018 AP Female Athlete of the Year

    Meanwhile, the goal of matching Margaret Court's 24 Grand Slam titles is one that she certainly has at the forefront of her mind. During a promotional event in Abu Dhabi, where she is expected to play an exhibition match, Serena said that it's a great rule.
    Tourist Bus Blast Near Pyramids in Cairo Leaves Casualties - Egyptian Ministry

    Tourist Bus Blast Near Pyramids in Cairo Leaves Casualties - Egyptian Ministry

    The bus was carrying 14 Vietnamese tourists and only two of them escaped unharmed, according to Egyptian officials. At least nine Vietnamese tourists were injured, as well as the Egyptian driver, according to official statements.
  • Top Republican Indicates Trump Rethinking Plans to Withdraw from Syria

    Top Republican Indicates Trump Rethinking Plans to Withdraw from Syria

    Kurdish Syrian forces at the weekend asked the Assad Government for protection against a Turkish attack on a flashpoint town. President Trump said that the U.S. would continue to protect YPG terrorist in Syria even after they leave the country.
    Wounded City ready to fight Liverpool, insists Kompany

    Wounded City ready to fight Liverpool, insists Kompany

    In recent times, Manchester City had faced the most trouble from Liverpool both in Champions League and Premier League. City collected a record number of points and scored a record number of goals on their way to last season's title.
    Racist abuse of Napoli's Kalidou Koulibaly condemned by UEFA

    Racist abuse of Napoli's Kalidou Koulibaly condemned by UEFA

    That incident came before a match that Roma was not even involved in - although Napoli's 3-1 win over Fiorentina was held in Rome. The vans were surrounded by more than 100 people armed with sticks. "There's no place for racism in football".
  • NASA Releases First Close-Up Pictures of Icy Object Past Pluto

    NASA Releases First Close-Up Pictures of Icy Object Past Pluto

    Eventually, these two bodies remained, slowly spiralling closer until they touched, forming Ultima Thule. The new colour image also revealed it to be definitively red, like the top of Pluto's moon Charon.
    John Wall to undergo season-ending surgery on heel injury

    John Wall to undergo season-ending surgery on heel injury

    Trevor Ariza ($15 million) and Markieff Morris ($8.6 million) are the most practical to be moved due to their expiring contracts. The surgery to fix his injury puts Wall out of action for around six to eight months, which means the issue is season-ending.
    $65,000 per second for beating RIZIN MMA star

    $65,000 per second for beating RIZIN MMA star

    As for Mayweather - don't be surprised if he picks up another one of these easy pay day boxing matches in the new year. He was gracious in victory, hugging the weeping Nasukawa and calling him "still a great champion".

We are pleased to provide this opportunity to share information, experiences and observations about what's in the news.
Some of the comments may be reprinted elsewhere in the site or in the newspaper.
Thank you for taking the time to offer your thoughts.