No decision taken on Rs 2,000 note production: DEA Secretary

Of the total currency in circulation amounting to Rs 18,037 billion on 31 March 2018 Rs 2000 notes accounted for 37.3% down from 50.2% on 31 March 2017

The government on Friday indicated that printing of Rs 2,000 bank notes, introduced post-demonetisation in November 2016, has been stopped for now as there is enough stock in circulation. "There has been no recent decision regarding Rs 2,000 note production", Garg said in his tweet.

When the Rs 2,000 note was launched, it was decided that the printing would be "scaled down" going forward, since the new high currency value note was meant for meeting the remonetisation need. The RBI annual report for the year 2017-18 proved to be shot on their arm as it revealed that Rs 15.31 lakh crore worth currency notes were returned, meaning about 99.3 percent of the total currency notes which went out of circulation on a single day.

Close on the heels of these suspicions, the RBI has made a decision to stop the printing of Rs 2,000 to reduce their circulation, the report said.

When the Rs 2,000 note was introduced, the Narendra Modi government was criticised for bringing out a note of such a high denomination considering it had cancelled the Rs 1,000 note.

'50-50' Chance Brexit won't happen, says senior United Kingdom minister
"If we were not to vote for that, I'm not sure I would give it much more than 50-50", he told The Sunday Times . He said that he wouldn't discuss the idea of a second referendum, as that is "for the British to decide".

However, the reduction in printing of Rs 2,000 notes does not mean they will become invalid.

Now, Subhash Chandra Garg, Secretary, Department of Economic Affairs, Ministry of Finance clarified that no such decision has been taken regarding the printing of Rs 2000 notes recently.

It has been speculated for long that the government would demonetise the Rs 2,000 note.

Many Indian cities had reported a massive cash shortage last April which was believed to be due to hoarding ahead of state elections and in the aftermath of the PNB-Nirav Modi bank fraud. The total value of such notes translates into Rs 15,787 billion.

Related News:

  • Donald Trump posts new Game of Thrones meme to tout border wall

    Donald Trump posts new Game of Thrones meme to tout border wall

    Trump's knock-off Game of Thrones poster stole the spotlight, and the internet wasn't pleased about it, Design Taxi reported . It also came one day after Trump held a cabinet meeting and said that America's southern border "leaks like a sieve".
    Kyrie Irving Suffers Injury, Criticizes Celtics Defense After Spurs Loss

    Kyrie Irving Suffers Injury, Criticizes Celtics Defense After Spurs Loss

    Curry shot 5-for-9 on 3-point attempts and Durant went 3-for-4, helping the Warriors outscore the Suns 42-27 from beyond the arc. Some of the top Vegas and offshore sportsbooks odds are updated in real time and we also provide who the public is on.
    IF launches Type-C Authentication Programme

    IF launches Type-C Authentication Programme

    However, for now, the authentication program is going to be optional , which obviously will prevent it from having much effect. It has taken a few years, but USB Type-C is finally becoming common on new computers, smartphones, and tablets.
  • Russia charges American with espionage: Interfax citing 'informed source'

    Russia charges American with espionage: Interfax citing 'informed source'

    In December, Russian national Maria Butina pleaded guilty in a Federal Court in Washington to acting as an illegal foreign agent. Ambassador to Russia Jon Huntsman Jr. visited Whelan on Wednesday in Moscow's Lefortovo Prison, the State Department said.

    Google's next OS, Fuchsia, will run Android apps

    By the fact it will run Android applications, Fuchsia will join the likes of Chrome OS , which is capable of doing the same thing. Recent work on Google's in-development operating system Fuchsia has confirmed the OS will support Android apps.
    North Korean envoy didn't ask for asylum

    North Korean envoy didn't ask for asylum

    However, Song-gil brought his wife and family with him to Rome, indicating that he might come from an elite family in North Korea. A source close to the Italian foreign ministry told AFP on Thursday the country had "no knowledge" of any asylum request from Jo.
  • Dwyane Wade Ranks Top 2 Among Eastern Conference Guards in All-Star Voting

    Dwyane Wade Ranks Top 2 Among Eastern Conference Guards in All-Star Voting

    Every voter will complete one full ballot featuring two guards and three frontcourt players from each conference. Boston's Kyrie Irving topped the East guards with 910,329 votes and Miami's Dwyane Wade was 2nd on 409,156.
    Trump Trolls Elizabeth Warren With Mock 2020 Campaign Poster

    Trump Trolls Elizabeth Warren With Mock 2020 Campaign Poster

    Iowa is a popular first stop for presidential candidates as it is the first state to participate in the primaries. And opportunity, for too many of our young people, is shrinking. "I'd love to run against her".
    Russian Federation  apartment collapse death toll rises to 33, including children

    Russian Federation apartment collapse death toll rises to 33, including children

    The blast ripped through the building at around 6:00 a.m. local time (0100 GMT) when numerous residents were asleep. In all, 48 apartments from the third to the 10th floor in the building's central part were damaged by the explosion.
  • Trump boasts he ‘essentially’ fired Mattis

    Trump boasts he ‘essentially’ fired Mattis

    But Trump, who was miffed by the media coverage Mattis' letter received, ordered him to leave to the Pentagon by January 1. On his first day as acting defense secretary, Pat Shanahan is emphasizing that China should be the Pentagon's main focus.
    Klopp: Liverpool immune to Premier League title hype

    Klopp: Liverpool immune to Premier League title hype

    Things went downhill quickly for United fans, as David Moyes took over and finished 7th in his first season in charge. Brighton also boosted their survival chances by beating Everton 1-0 thanks to Jurgen Locadia's solitary goal.
    India rejects Donald Trump's jibe at PM Modi on Afghanistan

    India rejects Donald Trump's jibe at PM Modi on Afghanistan

    He added Modi continuously kept telling him that the country is helping in building a library in Afghanistan. And he tells it is and he's very smart and we're supposed to say oh, thank you for the library.

Most liked

Ultima Thule: Nasa reveal high-res picture of snowman-shaped faraway object
The dark object is formed of two spheres which have combined to form one celestial object. The two spheres spiralled closer to each other and eventually got stuck together.

First meteor shower of 2019 peaks tonight
Those in the Northern Hemisphere have the best chance of seeing them, especially if they're in a dark moonless area. With clear skies forecast there's a chance people in the north-east could witness the first meteor shower of 2019.

Apple Shares Tumble After CEO Tim Cook Issues Revenue Downgrade
Within just two months, China , the world's largest smartphone market, has turned from a growth driver to a weak spot for Apple . In November, the company said it would stop reporting unit sales of iPhones , iPads and Macs beginning in fiscal 2019.

Rubbish and goods wash ashore as 270 containers lost off Dutch coast
Hundreds of containers have washed up on the Dutch coast after a ship lost part of its cargo in heavy seas. Volunteers have been helping collect items washed up on the beaches, which "look like a mess", Zwart said.

Santi Cazorla double stuns Real Madrid and earns Villarreal precious draw
Santi Cazorla scored twice as Villarreal fought back to take a point in a chaotic 2-2 draw against a lackluster Real Madrid .

Chelsea set to accept £18 million offer for Tammy Abraham from Wolves
Wolves are poised to move for Crystal Palace target Tammy Abraham , who is now out on loan to Aston Villa in the Championship. Championship giants Aston Villa are on the verge of losing Tammy Abraham , who is on-loan with the Villains from Chelsea .

Netflix urges fans to stop taking up the #BirdBoxChallenge - read tweet
Some fans of the movie are giving it a try themselves, posting video of themselves walking around blindfolded outside. Bird Box proved to be one of the most popular movies of 2018 and it was certainly one of the most talked about.

Pep: Liverpool clash was like a final!
It was something that infuriated Guardiola and clearly rattled his side, as they found themselves 3-0 down after just 31 minutes. Anfield has been sizzling with self-confidence and momentum after the team won every game in December.

WADA chief 'bitterly disappointed' by Russia missing deadline
UK Anti-Doping, which did not add its name to the statement , nonetheless said it was "deeply concerned" by Russia's behaviour. After Wada was turned away, Russian Sports Minister Pavel Kolobkov told local media the Wada team would return.

Prosecutors drop battery charge against NFL’s Reuben Foster
Ennis told a judge that she concocted the entire story and Foster's domestic violence charges were dropped. The weapons charge was reduced to a misdemeanor and Foster pleaded no contest to that in June.

Six passengers fall ill on flight
The remaining travelers were allowed to deplane shortly after 4:30 p.m. with no additional reports of people getting sick. No other passengers got sick at the airport. "Passenger safety is Frontier's number one priority", the airline said.

Christmas tree disposal opens January 5 in Ottawa
Please note: No flocked trees, artificial trees or plastic bags will be accepted as part of the tree recycling requirements. The holidays are over and you're probably already getting ready to take down your Christmas tree, if you haven't already.

Suspects in Jamal Khashoggi's killing brought before Saudi court
Saudi officials initially denied Khashoggi had been killed but later said he had died in a "fist-fight" inside the consulate. The Public Prosecutor also said they had asked for Turkey to provide evidence for the trial, but had not received a reply.

Vatican spokesman, deputy resign suddenly amid overhaul by Pope Francis
He named a longtime member of the Vatican's communications operations, Alessandro Gisotti, as an interim replacement for Burke. The pontiff of Catholic Church, Pope Francis has said it was better to be an atheist than a hypocritical Christian.

Trump accused of 'reaching new lows' with tweets about migrants
Trump's tweet came as the president and congressional Democrats are deadlocked over funding for a border wall. US officials said she had walked for days in the desert without food or water, but her family disputed that.