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RBI stops Printing Rs 2000 notes, turns focus to New Rs 200 notes

The Reserve Bank of India (RBI) has quit printing of Rs 2000 notes while it has moved its attention on different denominations like the new 200 rupee notes, according to the reports.

RBI had “quit printing Rs 2000 notes around five months back and is probably not going to print more in the current financial,”.

The report, citing different sources stated, “RBI’s printing press in Mysuru has additionally begun printing the new Rs 200 notes, which are probably going to come into dissemination one month from now”.

The Reserve Bank of India had apparently chosen to acquire Rs 200 notes in March subsequent to counseling the fund service, they said. The notes are experiencing numerous checks for security and quality at government printing presses.

The shortage of currency notes was trigged by the scrapping of high-denomination bills last year.

In an unexpected declaration, Prime Minister Narendra Modi reported rejecting of old notes of Rs 1,000 and Rs 500 notes, wiping out more than 85 percent of cash liquidity from the system. The move was gone for checking Black money, fake notes and Terror financing.

Pradhan Mantri Garib Kalyan Yojana (PMGKY) propelled following the conclusion of 50-day demonetisation period did not draw a decent reaction with just Rs 5,000 crore unaccounted salary being announced under the acquittal plot.

The plan was propelled in December a year ago to empower individuals with black money to come clean by paying tax and penalty of 50 percent.

Will the stop underway of printing Rs 2000 notes influence you?

The lawfulness of the delicate won’t be affected regardless of whether new notes are created. Genuine, RBI has halted the printing of new Rs 2000 notes, yet despite everything they stay legitimate and it is not leaving course.

The legality of the tender will not be impacted whether or not fresh notes are produced. True, RBI has stopped the printing of new Rs 2000 notes, but they still remain legal and it is not going out of circulation.

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