RBI has stopped printing Rs 2,000 currency notes, reveals RTI

According to officials, the high circulation of Rs 2,000 notes might defeat the administration's objectives of checking dark cash as it is simpler to pirate the high-group notes.

The Reserve Bank of India (RBI) has uncovered in an answer to a RTI that the printing of Rs 2,000 currency notes has been halted. Not a solitary Rs 2,000 note has been printed this money related year.

The RBI printed 3,542.991 million notes in the money related year 2016-17, which boiled down to 111.507 million notes in 2017-18 and was additionally diminished to 46.690 million notes in the year 2018-19, as uncovered in an answer by the RBI to a RTI recorded by The New Indian Express.

As indicated by authorities, the high circulation of Rs 2,000 notes may crush the administration's targets as it is simpler to carry the high-section notes. Prior there were reports that printing of Rs 2,000 notes have been halted yet the administration had denied the equivalent.

According to information discharged by RBI, there were 3,363 million notes in circulation toward the finish of March 2018, which added up to 3.3 percent of the complete currency in circulation as far as volume and 37.3 percent as far as worth.

The RTI answer comes similarly as the National Investigation Agency (NIA) asserted that 'excellent' counterfeit currency notes have reemerged, with Pakistan being the primary source.

The summit bank had presented the Rs 2,000 note after the administration reported the choice to boycott old Rs 500 and Rs 1,000 notes in November 2016. While new Rs 500 notes were printed, there have been no new Rs 1,000 notes.