INSUBCONTINENT EXCLUSIVE:
post-demonetisation in November 2016, has been reduced to "minimum" by Reserve Bank, a top finance ministry official said on Thursday
Soon after shock decision to ban old Rs 500 and 1,000 currency notes by government, Reserve Bank had come out with Rs 2,000 currency note
along with a new look Rs 500 note as part of its massive remonetisation exercise
The senior official said RBI and government from time to time decide on quantum of currency to be printed on basis of money in
circulation.When Rs 2,000 note was launched, it was decided that printing would be "scaled down" going forward, since new high-currency
value note was meant for meeting remonetisation need."The printing of 2,000 rupee notes has been substantially reduced
It has been decided to limit printing of 2000 currency notes to minimum
amounting to Rs 18,03,700 crore at end-March 2018, Rs 2,000 notes accounted for 37.3 per cent, down from 50.2 per cent at end-March 2017
The old 500 and 1,000 rupee bank notes that were scrapped in November 2016 accounted for around 86 per cent of total currency in circulation
