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No decision on phasing out Rs 2,000 note: Top official

No decision on phasing out Rs 2,000 note: Top official

Sentinel Digital DeskBy : Sentinel Digital Desk

  |  5 Jan 2019 5:57 AM GMT

New Delhi: Amid reports of gradual phasing out of Rs 2,000 notes, the government on Friday clarified that there had been no decision on the printing of the high denomination note “recently”, while hinting that their printing has been stopped as there is “more than adequate” stock in circulation.

Economic Affairs Secretary Subhash Chandra Garg said Rs 2,000 notes constitute over 35 per cent of the currency in circulation in terms of value.

“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,” he said in a tweet. His comments come a day after reports said the government had stopped printing Rs 2,000 notes and planned to phase it out.

The Rs 2,000 note was introduced soon after the demonetisation was announced in November, 2016 which banned Rs 500 and Rs 1,000 notes overnight. (IANS)

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