Enough of roaming the whole market while holding that giant Rs 2000 note in your hand. Ending the horror of several months, RBI has finally stopped printing Rs 2000 notes now and is all set to launch Rs 200 notes as a better alternative in the market soon.
Does that mean Rs 2000 notes will remain with no value?
No. They will still have the value. It’s just that RBI will not print more notes of Rs 2000.
As per the HT report, The RBI’s focus is now on printing small bills is aimed at bridging that gap.
A source of HT told that about 3.7 billion 2,000-rupee notes amounting to Rs 7.4 trillion have been printed earlier. That more than compensates for the 6.3 billion 1,000-rupee bills withdrawn from November 8.
The source further added-
“Most of the printing that’s being done, about 90% is only 500-rupee notes. Nearly 14 billion pieces of new 500-rupee notes have been printed so far.”
Current Currency in Circulation as per RBI
RBI data shows that currency in circulation stood at Rs 15.22 trillion as on 14 July, eight months after demonetisation. This is about 86% of the Rs 17.7 trillion that was in circulation on November 4.
When will Rs 200 notes arrive in market?
As per another source of HT, RBI’s Mysore press has started printing the new 200-rupee bills, which are likely to come into circulation next month.
The source quoted-
“Initially, around a billion 200-rupee notes are expected to hit the market.”
Isn’t that a big news?