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Rs 2000 Notes printing stopped for Rs 200 Notes
By: Tupaki Desk | 26 July 2017 11:18 AM GMT
Reserve Bank of India stopped the printing of Rs 2000 denomination notes to focus more on newly introduced Rs 200 notes. Already, RBI's Mysore press has begun the printing of currency notes of 200 denomination.
As per media reports, RBI isn't keen to print anymore Rs 2,000 notes in the current financial year. Why because, There are already plenty of such higher denomination notes in circulation. 3.7 billion Rs 2000 notes amounting to Rs 7.4 trillion have been printed so far. And that's more than the total value of 6.3 billion of Rs 1000 notes in circulation till November 8th.
Notably, The Central Bank stopped printing of Rs 2,000 notes five months ago. It is now focusing on bringing Rs 200 and other lower denomination notes into circulation. New Rs 200 notes will be introduced on August 15th this year.
As per media reports, RBI isn't keen to print anymore Rs 2,000 notes in the current financial year. Why because, There are already plenty of such higher denomination notes in circulation. 3.7 billion Rs 2000 notes amounting to Rs 7.4 trillion have been printed so far. And that's more than the total value of 6.3 billion of Rs 1000 notes in circulation till November 8th.
Notably, The Central Bank stopped printing of Rs 2,000 notes five months ago. It is now focusing on bringing Rs 200 and other lower denomination notes into circulation. New Rs 200 notes will be introduced on August 15th this year.
