Govt has 'more than adequate' Rs. 2000 notes: Subhash Chandra Garg

Last Updated: Fri, Jan 04, 2019 15:06 hrs
Rupee (PTI image)

New Delhi: Economic Affairs Secretary Subhash Chandra Garg on Friday asserted that the government there was "no decision" on printing Rs. 2,000 notes as there are "more than adequate" in the system.

Garg's clarification comes amid reports claiming that the central government has stopped the printing of Rs. 2000 notes and planned to phase it out.

"Printing of notes is planned as per the projected requirement. We have more than adequate notes of Rs 2000 in the system with over 35 per cent of notes by value in circulation being of Rs 2000. There has been no decision regarding 2000 rupee note production recently," he tweeted.

The Rs. 2,000 note was introduced after the Centre banned high-value currency notes- Rs. 500 and Rs. 100, in November 2016 as part of a demonetisation drive.