Srinagar: The Reserve Bank of India has stopped printing Rs 2000 notes and instead ramped up the printing of new batches of Rs 500 notes, according to media reports on Thursday. The central bank is also set to introduce new note of denomination Rs 200 next month.
The Reserve Bank of India has not yet officially confirmed if it has stopped printing the Rs 2000 notes. However Livemint cited people familiar with the matter as saying that the RBI would not print any more Rs 2000 notes in this financial year.
The RBI had so far printed 3.7 billion Rs 2000 notes the total value of which amounted to Rs 7.4 trillion. But, now all the focus is on Rs 500 and Rs 200 notes, reports added.
“Most of the printing that’s being done, about 90% is only Rs 500 notes. Nearly 14 billion pieces of new Rs 500 notes have been printed so far,” Livemint quoted the source as saying.