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No new Rs 1000 notes for now, but this is how it looks at least on Twitter

The government has no plans to introduce Rs 1,000 notes and the focus is on increasing production of lower denomination currencies, Economic Affairs Secretary Shaktikanta Das said on Wednesday.

BT Online | February 22, 2017 | Updated 16:29 IST
No plans to introduce Rs 1,000 notes, says Economic Affairs Secretary Shaktikanta Das

On Tuesday, the social media was abuzz with the images of 'new' Rs 1,000 notes, but the government has now categorically denied any plans to introduce Rs 1,000 notes and said that the focus is on increasing production of lower denomination currencies.

Putting an end to the rumours on Twitter, Economic Affairs Secretary Shaktikanta Das on Wednesday said that the government has no plans to introduce Rs 1,000 notes.

 

He also said complaints of cash shortages at ATMs are being addressed and requested people to desist from withdrawing more money than they need.

"No plans to introduce Rs 1000 notes. Focus is on production and supply of Rs 500 and lower denomination notes," he tweeted.

"Complaints of cash out in ATMs being addressed. Request everyone to draw the cash they actually require. Overdrawal by some deprives others," he said in another tweet.

Earlier, reports said the Reserve Bank of India (RBI) planned to launch the new Rs 1000 note in January, but the pressure to release Rs 500 notes had delayed the process.

Meanwhile, the new Rs 1000 note image that has been doing rounds in the social media seems to bear striking resemblance to the Rs 2000 note. It is also worth noting that images of Rs 2000 notes had leaked before it was launched.

Last week, Finance Minister Arun Jaitley said the remonetisation situation with regard to replenishing the scrapped currency is "almost normal" now and the Reserve Bank is monitoring the supply on a daily basis.

The government had announced withdrawal of old Rs 500 and Rs 1,000 currency notes on November 8, 2016, with an aim to check black money, counterfeit notes and terror financing.

 

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