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No plans to roll out new Rs 1,000 notes: Govt

Wednesday February 22, 2017 12:26 PM, & Agencies

1000 rupee note

New Delhi:
Rejecting the speculations that the Reserve Bank of India (RBI) plans to release new Rs 1000 currency notes, Economic Affairs Secretary Shaktikanta Das on Wednesday said focus of the government is on increasing production of lower denomination currencies.

"No plans to introduce Rs 1000 notes. Focus is on production and supply of Rs 500 and lower denomination notes," Das tweeted on Wednesday.

The tweet by Das came amid rumours that the RBI has already printed the new rupees 1000 currency notes and they will be rolled out soon. Section of media even carried the images of what it believed will be the design of the new currency.

He also said complaints of cash shortages at ATMs are being addressed and requested people to desist from withdrawing more money than they need, according to PTI.

"Complaints of cash out in ATMs being addressed. Request everyone to draw the cash they actually require. Overdrawal by some deprives others," he said in another tweet.

Last week, Finance Minister Arun Jaitley said the remonetisation situation with regard to replenishing the scrapped currency is "almost normal" now and the Reserve Bank is monitoring the supply on a daily basis.

The government had announced withdrawal of old Rs 500 and Rs 1,000 currency notes on November 8, 2016, with an aim to check black money, counterfeit notes and terror financing.



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