More

    No plans to introduce Rs 1,000 notes

    Must Read

    Bihar: Scrutiny of nomination papers for final phase of Assembly elections to take place today

    In Bihar, nomination papers for the third and final phase of assembly elections will be scrutinized today....

    With 54,044 new cases, India’s Covid-19 tally crosses 7.6 million-mark

    About 54,044 new Covid-19 infections were reported in the last 24 hours in India, taking the total...

    Police Commemoration Day being observed across country

    The Police Commemoration Day is being observed today. The day is observed on 21st October every year...

    The government has no plans to re-introduce Rs 1,000 and will focus instead on issuing lower denomination currency notes, Economic Affairs Secretary Shaktikanta Das said on Wednesday.

    “(There are) no plans to introduce Rs 1,000 notes. Focus is on production and supply of Rs 500 and lower denomination notes,” Das tweeted.

    His clarification followed media reports that the government was planning to re-introduce Rs 1,000 notes with a new design.

    Referring to complaints of dry ATMs even more than 100 days after the November 8 demonetisation, Das urged people to withdraw only as much cash as “they actually require”.

    “Overdrawal by some deprives others,” he said.

    Post demonetisation, the government introduced new Rs 500 notes along with Rs 2,000 notes.

    1000_647_022217115445Over Rs 1 lakh crore worth of the new Rs 500 notes have been printed, with the presses churning out some 22 million pieces every day.

    Prime Minister Narendra Modi demonetised the old currency to fight black money and terror funding.

    There were 17,165 million pieces of Rs 500 notes and 6,858 million pieces of Rs 1,000 notes in circulation on November 8.

    The total amount of high denomination currency circulating in the system on that day was Rs 15.44 lakh crore — Rs 8.58 lakh crore in Rs 500 notes and Rs 6.86 lakh crore in Rs 1,000.

    LEAVE A REPLY

    Please enter your comment!
    Please enter your name here

    This site uses Akismet to reduce spam. Learn how your comment data is processed.

    Latest News

    Bihar: Scrutiny of nomination papers for final phase of Assembly elections to take place today

    In Bihar, nomination papers for the third and final phase of assembly elections will be scrutinized today....

    With 54,044 new cases, India’s Covid-19 tally crosses 7.6 million-mark

    About 54,044 new Covid-19 infections were reported in the last 24 hours in India, taking the total tally to 7,651,107. In the...

    Police Commemoration Day being observed across country

    The Police Commemoration Day is being observed today. The day is observed on 21st October every year to honor the loyalty and...

    Qualcomm and Jio Align Efforts on 5G

    Achieve Over 1Gbps Speed in Trials Qualcomm Technologies, Inc. and Jio Platforms Limited (Jio) along with its wholly owned...

    Vadodara pay homage to martyr Arif Khan Pathan on Police Martyr’s day

    Today, on the occasion of Police Martyrs' Day, family, police, locals and teachers pay homage to martyr Arif Khan Pathan at his...

    More Articles Like This

    - Advertisement -