Rs 2000 Note: Not A Single Rs 2000 Note Has Been Printed For Three Years

It is known that six years ago the government took the decision to demonetize the big notes. New 2000 notes were issued in place of canceled notes. The demonetization decision taken by the Modi government is still a topic of discussion in the country and abroad. 2000 rupee notes are circulating after demonetization. But the RBI has said that the printing of those notes has also been stopped in recent times. The Reserve Bank said that not a single Rs.2000 note has been printed in the last three years.

Depreciating Rs.2000 Notes

According to the information received by RTI. No new notes of 2000 rupees were printed in the years 2019-20, 2020-21, and 2021-22. There has been a huge decrease in the printing of 2000 notes since 2016-17. These matters came to light through a reply to a request filed under RTI. In 2016 Rs. 500, and Rs. 1,000 notes after demonetization by the central government. This Rs. 2,000 note was introduced by the Reserve Bank of India (RBI). The Rs. 2,000 note was created.

Reports say that this number has come down drastically from 2019-20. The same notes printed between 2016-17 and 2018-19 are currently in circulation. 2000 notes in circulation in the hands of the people has become very less. Because most of the 2000 notes are with the banks. According to a Reserve Bank report in May, the value of the total 2000 notes in the system has declined to 22.6 percent by March 2021 and 13.8 percent by March 2022. According to the Reserve Bank’s annual report.. by March 2022, the share of 2000 notes will be only 1.6 percent of the total notes in the system. This share is expected to decrease further due to the shutdown of note printing.

Why not print 2000 notes?

In fact, inflation is the most important reason for printing large notes. At the same time, big notes will also help in unexpected situations like demonetization. This is because the amount of cash withdrawn from the system has to be printed in order to withdraw cash of the same value faster. If we look at the small-pack economy. Presently packets of goods under ten, twenty, and fifty rupees are the main thing in the shopping of the common man, so the work is going on by keeping enough 100 and 500 notes in circulation. At the same time, the notes in the system are sufficient. Hence there is no question of cash shortage. In addition to this, the need for large notes is also disappearing with the increasing trend of digital transactions.

Due to inflation and enough cash in the system, the government has been focusing on demonetization for some time now. Last year in the Lok Sabha, when the government was giving information about the non-printing of notes, he replied that the government is stopping the printing of big notes so that they can curb their reserves and black money. Along with this, the government has expressed concern over the fake 2000 note.

Fearing that the big currency notes would do more harm than good, the government stopped printing them. As of now, neither the Reserve Bank nor the government has revealed the next strategy regarding the 2000 note. Although the pre-printed 2000 notes may be in circulation, based on the data, financial experts say that the chances of pocketing 2000 notes in the coming period are less than before.