No decision yet on further printing of Rs 2,000 notes DEA Secretary Garg
India has not yet decided on further printing of 2,000 rupee notes as there are more than adequate notes of this denomination in the system, Economic Affairs Secretary Subhash Chandra Garg said.
Printing of notes is planned as per requirement, and now, 2,000 rupee notes constitute 35 percent by value of the total circulation, Garg added.
“There has been no recent decision regarding 2,000 rupee note production,” Garg said in a tweet.
Secy,Dept of Economic Affairs: Printing of notes planned as per projected requirement. We’ve more than adequate notes of Rs 2000 in the system with over 35% of notes by value in circulation being of Rs 2000. There has been no decision regarding 2000 rupee note production recently pic.twitter.com/V2HFawWoor
— ANI (@ANI) January 4, 2019
The comment comes a day after a media report, which stated that the government has stopped printing 2,000 rupee notes and plans to phase it out.
A Finance Ministry official told the news agency that scaling down of printing of Rs 2,000 note was decided during its launch after the note ban. New Rs 500 and Rs 2,000 notes were launched after old Rs 5,00 and Rs 1,000 notes were banned.
Earlier, this year media reports said that cash crunch was witnessed in some states due to the fewer number of Rs 2,000 notes available in circulation. Rumors of Rs 2,000 note being withdrawn from the circulation then also started spreading.
However, then the government then had clarified that there was no proposal to withdraw the high-value notes.