04 Jan 2019 14:12 IST

Govt indicates printing of ₹2,000 note stopped for now

It says there is sufficient currency in circulation

The government Friday indicated that printing of ₹2,000 bank notes, introduced post-demonetisation in November 2016, has been stopped for now as there is enough stock in circulation.

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 ₹2,000 in the system with over 35 per cent of notes by value in circulation being of ₹2,000.

“There has been no decision regarding ₹2,000 note production recently,” the Secretary said.

Soon after the sudden decision to ban old ₹500/1,000 currency notes by the government, the Reserve Bank had come out with the ₹2,000 note along with a new look ₹500 note as part of its massive remonetisation exercise.

The old ₹500/1,000 bank notes that were scrapped in November 2016 accounted for around 86 per cent of the total currency in circulation at that time.