RBI Stops Printing Of Rs 2000 Notes To Make Way For New Rs 200 Notes That May Come Out Next Month
So, we are soon going to get our hands on Rs 200 notes as the RBI has begun printing of the currency. And to make sure that we have enough notes, the Reserve Bank of India (RBI) has reportedly stopped the printing of the highest denomination Indian currency note in circulation, Rs 2,000.
The move comes amid reports that the apex bank is all set to release a new denomination, Rs 200 soon.
The central bank had reportedly decided to bring in Rs 200 notes in March after consulting the finance ministry, they said. The notes are going through multiple checks for security and quality at government printing presses.
Mint reported that currently, the focus is on Rs 200 and Rs 500 denominations.
“Most of the printing that’s being done, about 90% is only 500-rupee notes. Nearly 14 billion pieces of new 500-rupee notes have been printed so far,” the report said quoting an officer.
With the introduction of a new, yet relatively lower denomination currency note, the RBI is hopping to ease the currency crunch which is still prevalent in most parts since November 2016, when the Rs 500 and Rs 1,000 notes which constituted for more than 85 per cent of the total notes in circulation was withdrawn.