RBI Stopped Printing Rs.2000 – Free PDF Download

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You must have noticed- the ATMs have been barely dispensing Rs 2,000 notes for last few months.

That’s because the printing of the high-value note has been stopped, the Reserve Bank of India informed this newspaper in reply to an RTI query.

WHAT THE RTI REPLY SAID?

The Bharatiya Reserve Bank Note Mudran has not printed a single Rs 2,000 note this financial year.

BRBNMPL supplies a major portion of bank note requirement in the country.
The remaining requirements met through Security Printing and Minting Corporation of India Limited (SPMCIL),
A public sector undertaking wholly owned by Government of India.
3,542.991 million notes of Rs 2,000 were printed during the 2016-’17 financial year.
However, next year it came down substantially to 111.507 million notes.
In 2018-’19, the bank printed 46.690 million notes.

Till March 2018, there were 3,363 million notes of Rs 2,000 in circulation.
This is 3.3% in terms of volume and 37.3% in terms of value.
By 2019, this fell to 3% in volume and 31.2% in value.

The government had informed the Lok Sabha in June,
Over Rs 50 crore in fake currency notes have been seized in the past 3 years.
In August, the RBI had said in its annual report that a huge increase in fake Rs 2,000 currency notes was detected in the banking system in the 2017-’18 financial year.
17,929 fake Rs 2,000 notes were detected in 2017-’18. Bangladesh, on the other hand, has emerged as the source of low quality fake notes

The move to print fewer Rs 2,000 notes is seen as an attempt to prevent hoarding of the high-value currency and curb black money, said experts.
RBI official had said earlier this year. “It has been decided to limit the printing of 2,000 currency notes to minimum. This is nothing new.”