The government on Friday indicated that printing of Rs 2,000 bank notes, introduced post-demonetisation in November 2016, has been stopped for now as there is enough stock in circulation.
‘We have enough’
In a tweet, economic affairs secretary Subhash Chandra Garg said printing of notes is planned as per the projected requirement.
“We have more than adequate notes of Rs 2,000 in the system with over 35 per cent of notes by value in circulation being of Rs 2,000. There has been no decision regarding 2,000 rupee note production recently,” the secretary said.
Birth of a currency
Soon after the sudden decision to ban old Rs 500/1,000 currency notes by the government, the Reserve Bank had come out with the Rs 2,000 note along with a new look Rs 500 note as part of its massive remonetisation exercise.
How many 2000 notes are there
According to the RBI data, there were 3,285 million 2,000-rupee notes in circulation in March 2017. A year after, there was only a marginal increase in the number at 3,363 million notes.
Cost of printing Rs 2000
At the time of the launch, RBI used to pay Rs 3.54 for each new Rs 2,000 banknote. Post demonetisation, the new notes were being printed at four mints. Together, they had the task to replace about Rs 14 trillion taken out of circulation.