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Rs 2,000 notes, which are slowly coming out of the market, are not returning to the system. The printing of these was stopped only after the financial year 2018-19. However, there is no need to panic as the current notes will continue to circulate as before. It will be as if Rs. B. I. They are returning to, they will not be replaced by the printing of new notes, thus they will disappear from the system.
The number of Rs 2,000 notes in circulation declined to 223.3 crore in November this year. In March 2018, the number was 336.3 crore. Compared to the total number of notes in circulation in November, the number of Rs 2,000 notes has come down to 1.75 per cent.
Minister of State for Finance Pankaj Chaudhary said this in a written reply to a question in the Rajya Sabha. Pankaj Chaudhary said that the decision to print bank notes is taken in consultation with the Reserve Bank.
The number of 2,000 notes in March 2018 was 3.27 per cent
Pankaj Chaudhary said that as on March 31, 2018, 3,363 million notes of Rs. 2,000 were in circulation. In terms of numbers, it was 3.27 per cent of the total notes in circulation. In terms of value, it was 37.26 per cent.
In November 2021, the number of 2,000 notes decreased
On November 26, 2021, the number of Rs 2,000 notes decreased to 2,233 million. In terms of number, it is 1.75 per cent of the total number of notes in circulation and 15.11 per cent in value.
No new notes were printed after 2018-19
Pankaj Chaudhary said that the reduction in circulation of Rs 2,000 notes issued after denomination was due to non-printing of new notes after 2018-19. Many notes are out of circulation after being torn. This is also one of the reasons for the shortage.
2,000 notes in circulation after denomination
On November 8, 2016, the government decided to close the Rs 500 and Rs 1,000 notes in circulation to curb black money. After denomination, Rs. 2,000 notes and new Rs. 500 notes were printed. Later, Rs 200 banknotes were also printed.
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