The Indian Reserve Bank (RBI) had stopped producing Rs. 2000 notes. In the last financial year there was not one single note printed.
This information is based on an application filed by The New Indian Express for the Right to Information (RTI).
RBI had printed 3,542,991 million Rs 2,000 banknotes in 2016-17, according to the RTI reply. In 2017-18, this was reduced to 111.507 million notes and in 2018-19, the RBI only printed 46.690 million such notes.
In 2016/17, the share of Rs 2,000 notes in the value term was 50.2 per cent, which later fell to 31.2 per cent in 2018/19, according to the RBI report.
The value of all the Rs 2,000 notes issued in 2016/17 was Rs 6,57,100 crore; in 2017/18, only Rs 15,500 crore worth fresh Rs 2,000 notes were added, bringing the total to Rs 6,72,600.
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The RBI's annual report says that during 2018-19 the counterfeit notes of range 500 (new design) rose by 121 percent to 21,865 pieces. For Rs. 2,000 notes, the detection of counterfeit is almost 22 per cent higher at 21,847 pieces. In 2018-19 total 12,728 Rs. 200 counterfeit notes were detected compared to 79 in 20117-18.
Posted by Tanveer Updated: January 21, 2020, 1:16 pm IST Read Time: 2 min RBI stops producing ' easy to counterfeit ' Rs 2000 notes A+ A- The Reserve Bank of India (RBI) stopped producing Rs. 2000 notes.
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