New Rs1,000 note by December, RBI to start printing shortly, says report
New Delhi: The government is going to issue new Rs 1,000 notes as soon as December 2017, reported DNA citing an unnamed person aware of the development.
The Rs 1,000 currency note was demonetised in November 2016 along with old Rs 500 note.
The printing of the new Rs 1,000 notes will begin shortly at Reserve Bank of India (RBI)’s Mysore and Salboni printing presses, the people aware of the development told DNA, adding that the brand new notes will also come with enhanced security features.
The new Rs 1,000 notes will bridge the wide gap between existing Rs 500 and Rs 2,000 notes.
Reserve Bank of India (RBI) introduced a new Rs 200 note last week and also announced it will issue new Rs50 notes shortly.
The first tranche of the new Rs200 note issued by the RBI will be available at select RBI offices and banks. It will take at least a week to get the new notes from ATMs. This wait is due to the time it takes for ATM manufacturers to recalibrate the machines, given that there are over 200,000 ATMs in the country.
The person cited above told DNA that now the new Rs200 notes are getting printed and next in line for printing is the Rs1,000 note.
Following the demonetisation of Rs1,000 and Rs500 notes last November, the central bank had introduced Rs2,000 notes and new Rs500 notes.
The government has stopped printing Rs2,000 notes at least six months back as the focus is now on lower-denomination notes, noted the DNA report. The Rs2,000 notes will continue to exist, it added.
- Donald Trump’s North Korea threats leave Asia struggling to explain
- India ready to work above and beyond Paris climate deal, says Sushma Swaraj
- News in Numbers: SBI Life’s Rs8,400 crore IPO is potentially the biggest since 2010
- P2P lending firms to be regulated by RBI
- China is said to mull relaxing foreign electric vehicles maker restrictions