Government not to introduce new currency notes of Rs 1,000

Photo of new Indian currency note of Rs 1000.

New Delhi: Economic Affairs Secretary Shaktikanta Das today said that the government has no plans to introduce new currency notes of Rs 1,000 and currently focus is on increasing production of lower denomination currencies.

Das said complaints of cash shortages at ATMs are being addressed and requested people to stop withdrawing more money from the required necessity.

He tweeted on his twitter account, “No plans to introduce Rs 1000 notes. Focus is on production and supply of Rs 500 and lower denomination notes.”

Finance Minister Arun Jaitley said last week, the demonetisation situation with regard to replenishing the scrapped currency is “almost normal” now and the Reserve Bank is monitoring the supply on a daily basis.

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On November 8th, the government had announced withdrawal of old Rs 500 and Rs 1,000 currency notes, 2016, with an aim to check black money, counterfeit notes and terror financing.

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