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RBI stops printing Rs 2000 notes since March?

NEW DELHI, NOV 11 (UNI):- People displaying new currency notes denomination of rupees 2000 received from a bank in exchange of their old currency notes, in Agartala on Friday. UNI PHOTO-32U

NEW DELHI: The Reserve Bank of India (RBI) halts printing of Rs 2000 currency notes and had shifted its focus more on printing of Rs 200 and other denominations notes, reported Livemint.

The report said that the RBI had stopped printing of higher denomination of Rs 2000 about five months ago and will not be bringing new notes of that denomination in the current financial year.

The report, quoting other sources said, “RBI’s printing press in Mysuru has also started printing the new Rs 200 notes, which are likely to come into circulation next month”. Around a billion Rs 200 notes are expected to hit the market, added a source at printing press in Mysuru.

“About 3.7 billion Rs 2,000 notes, amounting to Rs 7.4 lakh crore, have been printed; that more than compensates for the 6.3 billion Rs 1,000 notes that were withdrawn after demonetization on 8 November 2016,” Livemint said, citing an RBI source.