Money & Banking

No decision taken on Rs 2,000 note production: DEA Secretary

BL Internet Desk New Delhi | Updated on January 04, 2019 Published on January 04, 2019

Subhash Chandra Garg, Secretary, Department of Economic Affairs   -  File photo

'Sufficient currency notes in circulation'

The Secretary of the Department of Economic Affairs (DEA), Subhash Chandra Garg, said that no decision has been taken with regards to the production of Rs. 2000 currency notes. This comes a day after a top financial ministry official commented that the printing of Rs 2000 banknotes, introduced post-demonetisation in November 2016, has been reduced to the “minimum” by the Reserve Bank of India (RBI).

In a tweet, Garg said that there are more than adequate notes of Rs 2,000 in India’s financial system.

A year after (on March 31, 2018), there was only a marginal increase in the number at 3,363 million pieces.

The old 500/1000 bank notes that were scrapped in November 2016 accounted for around 86 per cent of the total currency in circulation at that time.

(With inputs from PTI)

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Published on January 04, 2019
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