₹1,000 Notes Not To Be Reintroduced: RBI Governor Clarifies

Hyderabad, May 23 (Maxim News): The Reserve Bank of India, governor Shatikant Das has clarified stating that they have no intention or idea to make the release of Rs. 1,000 notes with this it is clear that it is all speculative and there is no such proposal.

Shaktikant Das made interesting comments after announcing the withdrawal of Rs. 2,000 notes, he explained that withdrawal of notes is a part of RBI’s usual currency management measures and RBI has been implementing the Clean Note Policy process since time immemorial. He said that the value of Rs. 2000 notes is only 10.8 per cent of the current currency in circulation, and the current decision taken by the RBI will have a very small impact on the country’s financial system. n

Rs. 2,000 note was introduced by the RBI in November 2016. Mainly after demonetization, Rs. 2000 note was introduced to meet the need of currency in the economy in a quick manner. (Maxim News)

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