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Government Says There Is No Plan Of Issuing New Rs.1000 Notes

Published on 22 February, 2017 at 1:16 pm By

The government on Wednesday denied reports of the Rs.1000 note making a comeback in a new avatar.

On Tuesday, social media was abuzz that the government is planning to bring back the Rs.1000 note. Images doing the rounds of social media showed a blue colour note designed along similar pattern of the Rs.500 and Rs.2000 notes.


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Economic Affairs Secretary Shaktikanta Das said there is no such plan.

 



Reports had said that printing of the new Rs.1000 notes had already started. It was reported that the Reserve Bank of India (RBI) had initially planned to launch the notes in January, two months after the demonetisation drive was launched.

The old Rs.1000 and Rs.500 notes were scrapped because the denominations were used as black money. The two denominations formed the maximum chunk of fake currencies in India.

Das also addressed the shortage of cash in ATMs.


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