RBI stops printing Rs 2000 note, to release new Rs 200 note

No more Rs 2,000 note as the RBI begins printing the new Rs 200 note instead The Rs 2,000 note was introduced on November 8 following the announcement of demonetisation RBI sources said that new Rs 200 notes would be out of circulation by next month

The Reserve Bank of India has stopped printing the Rs 2000 note which were introduced in November 2016, post demonetisation. Instead, new notes of Rs 200 denomination are being printed and will be out for the public use soon.

Livemint reported that about 3.7 billion Rs 2000 notes, amounting to Rs 7.4 trillion, had been printed. Nearly 14 billion new Rs 500 notes have been printed so far, the report stated. Currently, around a billion Rs 200 notes will be out in the market soon, RBI sources told News18.

However, this move comes as a surprise as Prime Minister Narendra Modi had scrapped the use of Rs 1000 and Rs 500 notes from November 8, last year. After these notes were demonetised, new notes of Rs 2000 were printed. After some time Rs 500 notes were also released.

Now, as was observed even in the past month, ATMs did not dispense Rs 2000 notes. Instead, there were only Rs 500 notes.

However, no reason has been given for scrapping the Rs 2000 note yet.