No plans to introduce Rs 1,000 note: Shaktikanta Das

Thrashing rumours of the re-introduction of Rs 1,000 currency note, in a new avatar, Economic Affairs Secretary Shaktikanta Das turned to Twitter to announce that were no plans to bring back Rs 1,000 notes and the focus remains on producing and supplying enough Rs 500 and lower denomination notes.

Also addressing the ongoing cash crunch in ATMs, he tweeted: “Complaints of cash out in ATMs being addressed. Request  everyone to draw the cash they actually require. Overdrawal by some deprives others.”

His tweet came a day after speculative media reports on the Reserve Bank of India's (RBI) plan to  launch Rs 1,000 notes in a new avatar.

On November 8, as part of demonetisation move, Prime Minister Narendra Modi had announced the withdrawal of old Rs 500 and 1,000 notes from circulation with immediate effect. The same week, the RBI introduced new high-security Rs 2,000 and Rs 500 notes. However, no official announcements were made regarding re-introduction of Rs 1,000 notes into the market.

The image of Rs 1, 000 note that went viral on social media

Since the rumours of the return of Rs 1,000 note, internet has been abuzz with a sample of the new Rs 1,000. In the viral image of the yet-to-be-launched note, it looks like a violet-coloured cousin of Rs 2,000 note, with similar design and looks. Interestingly, images of Rs 2,000 note were also leaked on social media before its release.

Meanwhile, CPM general secretary Sitaram Yechury reacted to the news of the note's return on Twitter with a post criticising the demonetisation move, saying, “Rs 1,000 notes set to be back? So what was this demonetisation about, destroying lives, livelihoods and crashing our Economy?”