The government has spent Rs. In the process of canceling two thousand currency notes

PTI) Mumbai, Ta. Tuesday, August 25, 2020

In the country, Rs. 2,000 currency notes are disappearing because they are not being printed. For some time now, Rs. 2,000 currency notes are not being issued. Some banks even have Rs. It has also officially announced not to keep 2,000 notes.

Now, the Reserve Bank has said that in the financial year 2019-20, Rs. The 2,000 rupee note has not been printed and has been depreciating over the years. The RBI said in its annual report that at the end of March 2020, Rs. Only 27,398 lakh notes of Rs 2,000 were in circulation, compared to Rs. Showing a significant decline in the currency of the 2,000 note.

After Prime Minister Modi imposed a ban on banknotes in November 2016, Rs. 2,000 notes came into circulation. However, now its currency is declining in the market. According to a report by the Reserve Bank of India, at the end of March 2018, Rs. Of the 2,000, 33,632 lakh notes were in circulation, down from 32,910 lakh in March 2019.

By the end of March 2020, Rs. 2,000 notes accounted for 2.4 per cent, down significantly from 3 per cent in March 2019. At the end of March 2018, Rs. 2,000 notes accounted for 3.3 per cent. Even in terms of value, Rs. The share of 2,000 notes fell from 37.3 per cent in March 2018 to 31.2 per cent in March 2019 and even further to 22.6 per cent at the end of March 2020.

On the other hand, in the three years starting from the financial year 2018, the currency of Rs 500 and Rs 200 notes has gradually increased in terms of both value and denomination. The RBI report further said that during the financial year 2019-20, Rs. The printing of 2,000 currency notes was also not demanded and its new supply was not provided by the Reserve Bank of India Note Printing Pvt. Ltd. and the Security Printing and Minting Corporation of India Ltd.

Demand for banknotes declined by 13.1 per cent in 2019-20 compared to a year ago, the report said. During 2019-20, the supply of banknotes declined by 23.3 per cent over a year ago. The RBI said that during the financial year 2019-20, Rs. A supply of Rs 1,200 crore was provided against the demand of Rs 1,643 crore for 500 currency notes.

During the year 2018-19, Rs. Demand for 500 notes was 1,169 crore units and supply was 1,147 crore units, which was Rs. The demand and supply of 500 currency notes showed a significant increase. In addition, during the year 2019-20, BRBNMPL and SPMCIL will get Rs. 330 crore of 100 notes, Rs. 240 crore of 50 notes, Rs. 205 crore of 200 notes, Rs. 147 crore of 10 notes and Rs. Printing of 125 crore pieces of 20 notes was ordered.