Government to stop printing of Rs 2000 notes : Report

The Rs 2000 note that was introduced after Prime Minister Narendra Modi, in a surprise move announced, demonetisation of all Rs 500 and Rs 1000 banknotes on November 8, 2016, is going out of circulation soon. Centre has stopped printing them a bid to slowly stop their circulation as per a report in The Print.

As per a highly placed source in the government, quoted in the report, Modi-led NDA government has decided to stop the printing of the Rs 2000 notes on suspicion that the banknote was being used for hoarding, tax evasion and money laundering. Worth noting is that PM Modi had justified the demonetisation of Rs 500 and Rs 1000 on the same lines.

The Modi government underwent faced heat over the decision as the Opposition alleged that the decision was taken out of the blue without proper planning and motive. The RBI annual report for the year 2017-18 proved to be shot on their arm as it revealed that Rs 15.31 lakh crore worth currency notes were returned, meaning about 99.3 percent of the total currency notes which went out of circulation on a single day.


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