Government to demonetise Rs 2000 notes next? SBI report hints at same

Government to demonetise Rs 2000 notes next? SBI report hints at same

As per the Ecoflash report of SBI, the people are facing problems with getting the change for Rs 2000 notes; therefore Reserve Bank of India is gradually reducing the printing of the same

By: || Updated: 21 Dec 2017 09:31 AM

Rs 2000 notes

New Delhi: Is Government mulling about demonetizing the Rs 2000 note after Rs 1000 and Rs 500 notes? The question rose after a report released by State Bank of India hinted at the same.

As per the Ecoflash report of SBI, the people are facing problems with getting the change for Rs 2000 notes; therefore Reserve Bank of India is gradually reducing the printing of the same. The same is likely to take up the share value turn of smaller currencies to up to 35%.

As per the report submitted by SBI group’s Chief financial advisor Dr Soumya Kanti Ghosh, Till December 8, 2017 RBI printed Rs 2000 notes worth 15,78,700 crore. But, only notes worth 13,32,400 crore are in circulation. The difference of the two is worth 2,46,300 crore, which is still with RBI.

On the other hand RBI circulated Rs 50 and Rs 200 notes in the market.

PM Modi had last year demonetized Rs 500 and Rs 1000 notes and announced that they would no longer be considered as legal tender.

After note ban, there was a dearth of cash because of which Rs 2000 notes were released.

After Ecoflash report, the discussion of banning of Rs 2000 note has increased.

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