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Fri, Jan 18, 2019 | Last Updated 12:44 am IST

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Plans on to stop printing 2000 rupee notes!

Plans on to stop printing 2000 rupee notes!
Plans on to stop printing 2000 rupee notes!
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After the sensational announcement by Indian Prime minister Narendra Modi in November 2016 to demonetizing the then existing 500 and 1000 rupee notes, the 2000 rupees notes which came to existence then, have been stopped to be printed, say reports. Along with 2000 rupees notes, new 500 rupee note with a different look was also introduced, but reportedly 2000 rupee notes are going to be gradually reduced.

 


The Prime minister, in his announcement in 2016, had termed the demonetization as an attempt to abolish black money, but now, the very same central government governed by Modi is said to be suspecting that he 2000 rupees notes are predominantly being used for evading taxes and in money laundering activities, cited as the reason to stop printing new 2000 rupee notes.

 Plans on to stop printing 2000 rupee notes!

As of March 2018 2000 rupee notes in circulation, contributed to 37% of the total money, which amounted to 6.7 lakh crores and with such heavy inflow of 2000 notes, this tough decision to stop printing is taken. On the other hand, RBI officials have said that it is a periodic activity done by central government and Reserve Bank of India together to reduce printing of specific notes in circulation.


Plans on to stop printing 2000 rupee notes!
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