New Delhi: Three months after Prime Minister Narendra Modi’s demonetisation move, the Reserve Bank Of India and the government is planning to relaunch Rs 1000 note in a totally new avatar, claim reports. As quoted by The Indian Express, an RBI official said that the printing of the new Rs 1000 notes has already been started and it can be circulated in the market in a couple of months. “The initial plan was to introduce the new Rs 1,000 note in January but it has been delayed due to the pressing need to supply Rs 500 notes,” the official informed the daily. Few days back, a picture of new Rs 1,000 note was doing rounds on social media. However, it can not be confirmed if the yet-to-be launched note is similar to viral sample picture.Also Read - Trade, Investment, Economy: Here’s What To Expect From PM Modi's Address At ASEAN-India Summit Today

Meanwhile, CPI(M) general secretary Sitaram Yechury has slammed the reports of re-introduction of Rs 1,000 note. Taking to micro-blogging site Twitter, Yechury said,”Rs 1,000 notes set to be back? So what was this demonetisation about, destroying lives, livelihoods and crashing our Economy? #Jumlanomics.” (Also Read: Rs 1000 new note picture goes viral on WhatsApp: Is the green-coloured new Rs 1000 currency note available in bank? Also Read - 16 Houses Gutted, Over 150 People Rendered Homeless in Fire in Himachal’s Malana Village

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On Monday, the cash withdrawal limit for savings account had been raised to Rs 50,000 per week. As per the new relaxation rule, savings accounts holders will now be able to withdraw up to Rs 50,000 per week. Earlier, the cash withdrawal limit for savings accounts was Rs 24,000 a week. The limits on cash withdrawals from savings bank account will be withdrawn from March 13.

“The limits on savings bank cash withdrawals post-demonetisation are to be withdrawn in two stages,” said the Reserve Bank of India. “Cash withdrawal limit will be increased from Rs 24,000 to Rs 50,000 from February 20,” the central bank had said. “There will be no restrictions on cash withdrawals from March 13,” it added.

The RBI had raised the withdrawal limit for Current Account holders to Rs 1 lakh on January 16. The limit was earlier fixed at Rs. 50,000  per week.  The notification was rolled out after over two months after Prime Minister Narendra Modi banned two high value currency notes, Rs 500 and Rs 1,000.

After the note ban on November 8, Reserve Bank had capped withdrawal limits on ATMs and bank branches. It raised limits from Rs 2,000 per day to Rs 4,500 per day to Rs 10,000 per day while maintaining the overall weekly ceiling of Rs 24,000.