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Rs 2,000 notes: No discussion within govt on withdrawal, says Arun Jaitley

Livemint logo Livemint 23-08-2017 PTI

New Delhi: Finance minister Arun Jaitley on Wednesday said the government is not considering banning Rs 2,000 notes, and the Reserve Bank will decide on the timing of issuing the new Rs 200 bill.

The government has given the go-ahead to the RBI to issue Rs 200 notes, a move that is aimed at easing the pressure on lower-denomination currency.

Rs 2,000 notes: No discussion within govt on withdrawal, says Arun Jaitley: The Opposition MPs raised questions over the status of Rs2,000 currency notes during the Parliament's Monsoon session. Photo: Hemant Mishra/Mint © LiveMint The Opposition MPs raised questions over the status of Rs2,000 currency notes during the Parliament's Monsoon session. Photo: Hemant Mishra/Mint

“The whole process regarding by when the notes will be printed, RBI will take care of that issue. Thus, it would be appropriate for the RBI to announce about dates and related matters to the note printing,” Jaitley told reporters here.

When asked whether the government is considering to phase out Rs 2,000 notes, he said: “No, there was no such discussion”.

Following the demonetisation of old Rs 500 and Rs 1,000 notes on 9 November last year, the RBI had introduced Rs 2,000 notes and new Rs 500 notes with additional security features.

Mint reported in July that the Reserve Bank of India (RBI) has stopped printing Rs 2000 notes about five months ago and is unlikely to print more in the current financial year.

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