Refuting media reports, Govt clarifies citing “no decision taken to cease Rs 2,000 note production”

Mumbai, January 4: Refuting media reports on cease of production pertaining to Rs 2000 notes, the central government has squashed all the reports citing that no decision was taken and the government has more than adequate notes in the system.




Economic Affairs Secretary, Subhash Chandra Garg clarified saying that the government has no plans to cease the printing production of Rs 2,000 notes. The printing of notes is been planned as projected requirement and they have more than 35% of notes by value of circulation. 



Media reports mongering recently claimed that the decision of stopping the printing process was taken on the back of suspicion that the Rs 2,000 notes are being used for hoarding, money laundering.
The Rs 2,000 note was introduced in November 2016, after the government demonetised Rs 1,000 and Rs 500 notes as part of an exercise pitched in to crack black money.
The total value of the currency in circulation was Rs 18.03 lakh crore, of which Rs 6.73 lakh crore, or 37 percent, was in Rs 2,000 notes, and Rs 7.73 lakh crore, approximately 43 percent, was in Rs 500 notes till March 2018. The remaining was in the lower denominations.