The Reserve Bank of India (RBI) has stopped printing Rs 2,000 denomination currency notes.
The Bharatiya Reserve Bank Note Mudran has not printed a single note of Rs 2,000 this financial year. The central bank revealed that 3,542.991 million notes of Rs 2,000 were printed during the financial year 2016-17. However, the year 2017-18 saw a substantial reduction in printing and only 111.507 million notes were produced, which was further reduced to 46.690 million notes in the year 2018-19.
A high circulation of Rs 2,000 notes may defeat the government’s objectives as they are easier to use for illegal purposes such as smuggling.
Very nice step is taken.I admire it.