New Delhi: The Finance Ministry denied the reports of Reserve Bank of India (RBI) stopping the production of Rs 2,000 currency notes.
The ministry on Friday said that printing was planned according to the projected requirement.
“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% of notes by value in circulation being of Rs 2,000,” Economic Affairs Secretary Subhash Chandra Garg Tweeted. He also said that there had been no decision regarding Rs 2,000 note production recently.
Printing of notes is planned as per the projected requirement. We have more than adequate notes of Rs 2000 in the system with over 35% of notes by value in circulation being of Rs 2000. There has been no decision regarding 2000 rupee note production recently.
— Subhash Chandra Garg (@SecretaryDEA) January 4, 2019
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Several reports on Thursday claimed that the government had stopped the printing of the high-value currency note as it was being used for ‘hoarding, tax evasion and money laundering.’
Another report, by newswire PTI, had said the printing of the Rs 2,000 banknote, introduced post-demonetisation in November 2016, had been brought down to a minimum.