No plans to introduce Rs 5,000, Rs 10,000 notes: Govt

Consultations with RBI have revealed that it is not suitable to introduce Rs5,000 and Rs10,000 notes, says minister of state for finance Arjun Ram Meghwal


The government recently introduced the Rs2,000 note along with a new Rs500 note following demonetisation that scrapped 86% of the currency in circulation on 8 November. Photo: AFP
The government recently introduced the Rs2,000 note along with a new Rs500 note following demonetisation that scrapped 86% of the currency in circulation on 8 November. Photo: AFP

New Delhi: The government on Friday said it has no plans to come out with Rs5,000 and Rs10,000 banknotes.

“The matter was examined in consultation with the Reserve Bank of India and it has not been found suitable to introduce of Rs5,000 and Rs10,000 note,” minister of state for finance Arjun Ram Meghwal said in a written reply to the Lok Sabha.

He replied in negative when asked whether the government proposes to introduce Rs5,000 and Rs10,000 denomination notes with a view to reduce the expenditure on printing of notes in future.

The government had recently introduced Rs2,000 note along with a new Rs500 note following the demonetisation which scrapped 86% of the currency in circulation on 8 November.

Economic affairs secretary Shaktikanta Das had last month said that the government has no plans to re-introduce Rs1,000 notes.

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