IndianEra > Business > Rs.2000 note to become obsolete soon?

It’s time to add the Rs.2000 note to your memorabilia – With the number of Rs.2000 notes going down in circulation, the note might soon become a rarity.

In 2018, the currency printing press, BRBNMPL, had produced only 467 lakh pieces of Rs.200 denomination.

Whereas in March 2020, the total number of Rs.2000 denomination notes stood at 27,398 lakh pieces, and since then, not a single note of Rs.2000 denomination is in print.

2000 Notes

After the demonetization of Rs.500 and Rs.1000 denominations in Nov 2016, the Rs.2000 note was introduced as the highest denomination currency in India.

However, in 2018, the BRBNMPL printed the Rs2.000 denomination only twice that year, wherein April 184 lakh pieces were printed, and in May, 282 lakh pieces were released.

RBI

As per RBI’s yearly report, the total number of Rs.2000 denomination notes in circulation had reduced from 33,632 lakh pieces in March 2018 to 32,910 lakh pieces in March 2019 to 27,398 lakh pieces in March 2020.

[Also Read: Cashless Economy: An Overview From Global to India’s Case!]

As per the report, RBI took a conscious decision to cut down the share of Rs.2000 notes that were in circulation.


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Posted by IndianEra, 28/08/2020
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