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1:26 pm - Monday February 19, 2018

No plan to introduce Rs 1,000 notes : Govt.

Agencies, New Delhi

The Government today said it has no plans to introduce Rs 1,000 notes, and would rather print more Rs 500 and lower denomination notes, dismissing reports that the notes of the denomination were being brought back.

‘’No plans to introduce 1,000 notes. Focus is on production and supply of 500 and lower denomination notes,’’ Economic Affairs Secretary Shaktikanta Das tweeted. The Rs 1000 notes along with Rs 500 denomination notes had been withdrawn on the midnight of November 8 as part of demonetisation plan announced by Prime Minister Narendra Modi to draw out black money.

The value of demonetised currency notes stood at Rs 15.44-lakh-crore. Mr Das, in his tweet, said that the problem of cash out in ATMs was also being addressed, and requested people to withdraw only as much cash as needed by them. He said withdrawals over what was needed by some would deprive others of what they badly needed.

Posted in: Featured, Nation

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