RBI stops printing Rs 2,000 notes; focus now on new Rs 200 notes, may hit market next month

New progress in denominations of notes brought to the public awareness-The Reserve Bank of India –RBI brought the process of printing Rs 2000 notes to an end five months ago, and not likely to print any one of these denomination , giving space to print new denomination of Rs 200 including with other notes.

After the Narendra Modi’s demonetisation movement hit on 8 November 2016, about 3.7 billion 2000 notes amounting to Rs 7.4 trillion have been printed and circulated since last few months, compensating more than 6.3 billion Rs 1000 notes, and nearly 14 billion pieces of new Rs 500 notes printed which is close to 15.7 billion of old Rs 500 notes, amounting of Rs 7.85 trillion. The new batches of Rs 500 notes are expected to replace the shortage of Rs 2000 notes in circulation in some central parts of the country.

Around a billion Rs 200 notes are like to hit the market, by next month. RBI printing press has already started printing Rs 200 denominations.  This new Rs 200 denominations facilitates more other currencies. Instead of 20 notes of Rs 100 to replace a Rs 2000 note, only 10 notes of Rs 200 are required.

However there hasn’t seen much drop in Rs 2000 denomination, but once Rs 200 notes hit the ATM there will be subsequently reduction in Rs 2000 notes.

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