Shaktikanta Das / Is the Rs 1,000 note coming back again? Know what the RBI governor replied

Vikrant Shekhawat : May 22, 2023, 02:10 PM
Shaktikanta Das: RBI has made complete preparations to take out 2000 rupee notes. Guidelines have also been issued to all the banks. At the same time, the RBI governor has also given a briefing to the media. Now another question is coming up. That is whether the 1000 rupee note is going to be returned? The RBI governor has told openly about this. The RBI governor has made it clear that RBI is not planning to bring back the Rs 1000 note. When asked if there was a possibility of reintroducing Rs 1,000 notes, Das replied that it was all speculation. There is no such proposal as of now.

In November 2016, RBI issued Rs 2000 note after demonetisation of Rs 500 and Rs 1000 notes. Now it will have to be deposited or changed in banks by 30 September. Whose process is starting from Tuesday. After the demonetisation of Rs 1000 and Rs 500 notes, Rs 10 lakh crore went missing overnight. To compensate for this, 2000 rupee notes were introduced.

RBI said that there was a need for money in the system at that time. At present, notes of other denominations are also available in sufficient quantity and the purpose of Rs 2000 notes has also been fulfilled. Because of which its printing was also stopped in the year 2018-19.

Talking to reporters, Das also said that there is no need for anyone to be in any hurry to exchange their Rs 2,000 notes. The RBI governor said that now there is no reason to crowd the banks. You have four months till 30 September.

He said that the effect of the closure of 2000 rupee note will be very less on the economy. He said that Rs 2,000 notes are only 10.8 per cent of the total currency in circulation.