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Twitter's abuzz with Rs 2000 bank notes. But are they real?

Twitter's abuzz with Rs 2000 bank notes. But are they real?

The Reserve Bank has the sole authority to issue banknotes in India. The Reserve Bank has introduced banknotes in the Mahatma Gandhi Series since 1996 and has so far issued notes in the denominations of Rs.5, Rs.10, Rs.20, Rs.50, Rs.100, Rs.500 and Rs. 1000 in this series.

BusinessToday.In
  • New Delhi,
  • Updated Nov 8, 2016 11:13 PM IST
Twitter's abuzz with Rs 2000 bank notes. But are they real?

Barely a month after a report that the RBI is set to issue high-value notes, Micro blogging site is abuzz with the image of bundles of pink-and-white notes posing as the new Rs 2000 denomination.

 

It is difficult to tell if these notes are real, but there has been no official word from either the government or RBI regarding the issuing of any such banknote denomination.

In India, the highest denomination under circulation is Rs 1,000. However, there has been a long-standing demand from certain sections that both Rs 1,000 and Rs 500 denominations of banknotes be demonetised in order to prevent hoarding of black money.

 

Earlier in October, the Hindu Business Line reported that the Reserve Bank of India has nearly completed the preparations for introducing this new high-value currency.

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"The notes have already been printed, and their despatch from the currency printing press in Mysuru has commenced," the report said.

The Reserve Bank has the sole authority to issue banknotes in India. The Reserve Bank has introduced banknotes in the Mahatma Gandhi Series since 1996 and has so far issued notes in the denominations of Rs.5, Rs.10, Rs.20, Rs.50, Rs.100, Rs.500 and Rs. 1000 in this series.

 

 

Published on: Nov 8, 2016 11:12 PM IST
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