The Centre has not yet decided on further printing of Rs 2,000 notes as there are more than adequate notes of this denomination in the system, Economic Affairs Secretary Subhash Chandra Garg tweeted on Friday.
The Rs 2000 note that was introduced after Prime Minister Narendra Modi, in a surprise move announced, demonetisation of all Rs 500 and Rs 1000 banknotes on November 8, 2016, is going out of circulation soon.
In December 2018, banker Uday Kotak had said that the outcome of the controversial demonetisation drive would have been "significantly better" if "simple things" like introducing Rs 2,000 currency notes were avoided.
The Reserve Bank of India (RBI), the central bank and lone authority on issuing currency, has not released any official comment yet on taking Rs 2,000 currency notes out of circulation.
The share of Rs 2,000 notes in the total currency circulation has experienced a steep decline, from 50.2 percent in March 2017 to 37.3 percent in March 2018.
The report also said that the decision also comes amid suspicion that the Rs 2,000 note is being used for money laundering, hoarding and tax evasion.
On Thursday, a report had said the government had stopped printing 2,000 rupee notes and planned to phase it out.
We had earlier reported that RBI has stopped placing new orders of Rs 2000 currency note, and now, this is proved that Govt. understands Rs 2000 currency note is not a feasible option.
There have been indications of phasing out the Rs 2,000 note. The remaining is in lower denominations. "It has been made a decision to limit the printing of 2,000 currency notes to minimum". It has been chose to limit the printing of 2,000 currency notes to minimum.
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