RBI Stops Printing Rs 2,000 Notes

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RBI Stops Printing Rs 2,000 Notes

G Plus News | October 15, 2019 17:38 hrs

GUWAHATI: The Reserve Bank of India (RBI) has stopped printing Rs 2,000 denomination currency notes, reveals an RTI response filed by the Indian Express. According to the report, the Bharatiya Reserve Bank Note Mudran has not printed a single note of Rs 2,000 this financial year.

According to the RBI's RTI reply, 3,542.991 million notes of Rs 2,000 were printed during the financial year 2016-17. However, the year 2017-18 saw a substantial reduction in printing and only 111.507 million notes were produced, which was further reduced to 46.690 million notes in the year 2018-19.

“Possibly, removing high-value notes from circulation makes it difficult to have too many black money transactions. But, it’s a better policy than demonetisation, which was very disruptive. Here, you are not disrupting anything. You are simply withdrawing circulation,” said economist Nitin Desai while talking to the Indian Express.

Nitin Desai is an Indian economist and international civil servant. He was Under-Secretary-General for Economic and Social Affairs of the United Nations from 1992 to 2003.

 

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