The Reserve Bank of India (RBI) had stopped the printing of 2000-rupee notes and started the printing of 200 rupee note, for ensuring convenience in transacting.
RBI stopped printing 2000 rupee notes five months ago. Moreover, the RBI is unlikely to print notes of higher denomination like 2000-rupee.
Cease of Rs 2000 note
The introduction of 2000 rupee by the government was to strategise the bank operations immediately after demonetisation. Owing to this, the Aam Aadmi was faced with a massive cash crunch as lower denomination currency was washed away from the market.
The RBI is mulling over printing lower denomination notes to mitigate the difficult conditions for the citizens.
According to sources privy to the matter, 2000 rupee notes of total value Rs 7.4 trillion have been printed. However, the 1000-rupee notes which were demonetised were only of value Rs 6.3 billion.
Green Notes: Rs 500 notes
Under the current scheme of printing operations, printing of Rs 500 notes has occupied 90% capacity. Over 14 billion 500-rupee notes have been printed across the country.
The demonetised 500 rupee notes amount to 15.7 billion, which have been withdrawn from circulation after demonetisation announcement.
Sources also say that all the new notes have not yet been released in the market. The Central Bank has currently held back the circulation of new notes.
Rs 200 notes by August
The news of Rs 200 notes has been started by the Central Bank. The RBI’s Mysore press has initiated the printing of new Rs 200 notes.
The Rs 200 notes is likely to be released for circulation by August this year.
Currency in Circulation
The currency in circulation, according to RBI is about 86% of the currency in circulation before demonetisation. A sum of 15.22 trillion is currently circulating in the economy, whereas a total circulation of Rs 17.7 trillion was in circulation on November 4.
As many as 100 crores (1 billion) Rs 200 notesare expected to hit the market by August end.
