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No plans to reintroduce 1,000-rupee notes : Government

India Blooms News Service | 22 Feb 2017, 05:49 pm
New Delhi, Feb 22 (IBNS) : The 1,000-rupee notes, scrapped by the Government in November, 2016 as part of its demonetisation drive, have no immediate future for making a comeback, though the supply of 500-rupee currencies are being ramped up, the Government says.

Scotching rumours that a new version of the Rs. 1,000-rupee notes are being printed, Economic Affairs Secretary Shaktikanta Das said on Wednesday that the Government has no such plans right now, media reports said.

However, supply of the new Rs. 500-rupee notes are being increased, he said.

The Government had banned all Rs. 500 and Rs. 1,000 notes on November 8, 2016, wiping out about 86 per cent of the total currency in circulation in the country.

Later, the Reserve Bank of India had introduced  2,000-rupee notes followed by a new version of  500-rupee notes to make up for the deficits in the currencies.

Das reportedly promised that the Government was addressing "complaints of cash out in ATMs" and asked the people to cooperate.

"Request everyone to draw the cash they actually require. Overdrawal by some deprives others," he tweeted.

No plans to reintroduce 1,000-rupee notes : Government

India Blooms News Service
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