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Business News/ Politics / Policy/  Govt has no plans to introduce Rs1,000 currency notes: Shaktikanta Das
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Govt has no plans to introduce Rs1,000 currency notes: Shaktikanta Das

The government has no plans to introduce Rs1,000 currency notes and the focus is on increasing production of lower denomination currencies, says Shaktikanta Das

Economic affairs secretary Shaktikanta Das also said complaints of cash shortages at ATMs are being addressed and requested people to desist from withdrawing more money than they need. Photo: Ramesh Pathania/MintPremium
Economic affairs secretary Shaktikanta Das also said complaints of cash shortages at ATMs are being addressed and requested people to desist from withdrawing more money than they need. Photo: Ramesh Pathania/Mint

New Delhi: The government has no plans to introduce Rs1,000 currency notes and the focus is on increasing production of lower denomination currencies, economic affairs secretary Shaktikanta Das said on Wednesday.

Das 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 ,000 notes. Focus is on production and supply of 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.

Last week, Union finance minister Arun Jaitley said the remonetisation situation with regard to replenishing the scrapped currency is “almost normal" now and the Reserve Bank of India (RBI) is monitoring the supply on a daily basis.

The government had announced withdrawal of old Rs500 and Rs1,000 currency notes on 8 November, 2016, with an aim to check black money, counterfeit notes and terror financing.

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Published: 22 Feb 2017, 12:03 PM IST
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