Is RBI planning to bring back ₹1,000 currency notes? Here's what Shaktikanta Das had to say

Says there are enough ₹500 and ₹100 denomination notes readily available


Reserve Bank of India Governor Shaktikanta Das, on Monday, scotched speculations of the possible reintroduction of ₹1,000 currency notes saying there are no such plans.

When asked about it, Das said, “That's speculative. There's currently no proposal for such a measure.”

On November 8, 2016, the Narendra Modi government cancelled the notes of 500 rupees and 1000 rupees.

Governor Das also clarified that there are enough ₹500 and ₹100 denomination notes readily available and the withdrawal of ₹2,000 notes will have "very very marginal" impact on the economy as the notes account for only 10.8 per cent of the currency in circulation.

There is more than adequate quantity of printed notes available in the system not just with the RBI, but also at the currency chests which are operated by the banks, he said.

"So there is adequate stock available and there is no reason to worry whatsoever. We have more than sufficient stocks," he said.

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