Are Rs 1,000 Notes Coming Back? RBI Governor's Reply
NDTV
The impact of the withdrawal on the economy will be "very very marginal", he said, adding Rs 2,000 notes made up for just 10.8 per cent of the total currency in circulation.
The Reserve Bank of India (RBI) does not have a plan to reintroduce Rs 1,000 bank notes to ease the impact following the withdrawal of Rs 2,000 notes, RBI governor Shaktikanta Das said today, calling reports on the subject "speculative".
"That's speculative. There's no such proposal right now," Mr Das said when asked whether there is a possibility of reintroducing Rs 1,000 notes.
The ₹ 2,000 banknote was introduced in November 2016 primarily to meet the currency requirement of the economy "in an expeditious manner" after the big demonetisation exercise, in which the legal tender status of all ₹ 500 and ₹ 1,000 banknotes in circulation at that time was withdrawn, the Reserve Bank of India has said. Rs 10 lakh crore was wiped out of circulation overnight because of the move.
"With fulfilment of that objective and availability of banknotes in other denominations in adequate quantities, printing of ₹ 2000 banknotes was stopped in 2018-19," RBI said.
