New Delhi: The Reserve Bank of India (RBI), in a Right to Information (RTI), revealed that printing of Rs 2, 000 notes has been stopped. Further, the high-end note has not been printed this financial time, The New Indian Express reported stating the RTI response by the Central Bank.
The experts are of the view that the printing of high-end notes has been stopped to avoid easy hoarding which may defeat the government’s initiative to curb black money.
The RBI data showed that at the end of March 2018, there were 3,363 million high-value notes in circulation. Later, in the financial year 2019, the number went down to 3,291 million.
The Rs 2, 000 note was introduced in November 2016 following the government’s decision to ban old Rs 500 and Rs 1,000 notes.
In the financial year 2016-17, 3,542.991 million notes of Rs 2,000 were printed, the TNIE said in its report.
Meanwhile, a report by the ANI had recently said that Pakistan has been misusing diplomatic channels in Nepal, Bangladesh, and other South Asian countries to push fake currency into India, apart from funding terror. Senior officials, according to the report, had revealed that a large amount of counterfeit currency from Pakistan was making its way into India.