The Indian apex bank, RBI might have already stopped printing 2000 rupees notes, as the value of 2000 notes was 7308 billion and other smaller denomination notes in circulation was about 3501 billion as of March 2017, besides also printing of 16957 million pieces of 500 notes and 3654 million pieces of 2000 notes with these valuing to a total of a huge 15787 billion.
The value of high denomination notes was 13324 billion while the residual 2643 billion high denomination notes might have been printed without entering circulation. It has been reported that RBI had decided to hold back printing of higher denomination notes further, as higher denomination notes leads to difficulties in transactions.
Besides the share of smaller value currency will also reach 35 percentage, and more of smaller currency will get printed. Earlier this year, finance minister Arun Jaitley had informed that 2000 rupees notes will not be stopped or phased out anytime nearby. The 2000 rupee note was launched by prime minister Narendra Modi in November 2016 to phase out 1000 rupees notes as part of Demonetization.
