The printing of 2000 note now closed in the country …?
Between the crisis of cash in the states of the state, the government has completely stopped printing of 2000 notes. Economic Affairs Secretary Subhash Chandra Garg said that notes worth 500, 200 and 100 rupees are not convenient in transactions. Printing of 500 rupees notes has been increased to meet the additional demand. Now every day 3000 million worth notes are being printed. He said that the situation of cash in the country is very good and additional demand is also being met. They also told that the new notes of Rs 2,000 are not being printed anymore.
The Secretary said that he has assessed the cash situation in the country last week and 85 percent of ATMs are working. Overall, the availability of cash in the country is quite common. He said, ‘There is enough cash and it is being supplied. Additional demand is also being met. I do not think there is any problem with cash at this time. ‘
According to Subhash Chandra Garg, at present the notes worth Rs. 7 lakh crores in 2000 are in circulation. Those who are more than enough and therefore new notes of Rs 2,000 are not being issued. 500, 200 and 100 rupees notes are the means of transactions between people. People do not consider 2000 rupees notes very convenient in transactions. 500 rupees notes are being supplied adequately. We have increased production up to Rs 2500-3000 crores per day.
Garg said that the Reserve Bank is increasing the security features of currency notes to avoid duplicate the notes. In the last 2.5 years, the cases of fake claims of high quality have come to the fore, but the RBI is busy looking for and exploring new features.
Economic Affairs Secretary Subhash Garg said that the foundations of the economy are not asking to increase the interest rate in the country as there is no uncommon growth in inflation or an unbalanced growth in inflation. That’s why fundamentals should be looked at and should wait for the next policy. The next meeting of the MPC will be on June 4-5. The six-member MPC is the RBI Governor Urjit Patel. In the previous review, the Reserve Bank retained the repo rate at 6 per cent.
Report of Amit Singh Negi for Idea for News from Delhi / Dehradun /
