News on ₹2,000 notes


Coming soon to your wallet: ₹2,000 notes

Source: The Hindu Business Line


HYDERABAD/MUMBAI, OCTOBER 21:
Banknotes of the denomination of ₹2,000 will be in circulation soon.

The Reserve Bank of India has very nearly completed preparations for introducing this new high-value currency, sources said.

The notes have already been printed, and their despatch from the currency printing press in Mysuru has commenced.

The move assumes significance in the wake of a demand from some quarters that notes of ₹1,000 and ₹500 denominations be withdrawn to prevent hoarding of black money.

The highest denomination note printed by the RBI was the ₹10,000 note in 1938 and in 1954. They were demonetised in 1946 and 1978, respectively.

There has been no official word on the introduction of new notes either from the RBI or the government. The government, on the advice of the RBI , decides on various denominations of banknotes to be issued.

Big share
As of March 2016, the value of banknotes in circulation was ₹16,41,500 lakh crore, an increase of 14.9 per cent over the previous year.

In value terms, ₹500 and ₹1,000 notes together accounted for 86.4 per cent of the total value of notes in circulation. .

“During 2015-16, the demand for banknotes and coins remained high notwithstanding the growing shift towards non-cash modes of transactions,” the RBI said in its annual report for 2015-16.

According to reports, it costs a little over ₹3 to produce a ₹1,000 note, the lowest in terms printing costs as a proportion of value. Printing notes of smaller denominations is relatively more costly.

(This article was published on October 21, 2016)
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Reserve Bank Of India(RBI) Rs 2000 Note Photo Going Viral in Social Media


RBI Rs 2000 Note Photo: As per Reports, Reserve Bank of India Bank will circulate notes of the denomination of ₹2,000 soon. The notes have already been printed, and their despatch from the currency printing press in Mysuru has commenced. the daily added that neither the Indian government nor the central bank confirmed the development.
Now The pictures of Rs 2000 currency notes are going Viral on Social media site like Twitter and Facebook. We can’t Say its original or not, but everyone sharing it with tagline ‘Reserve Bank of India Rs 2000 Note First Look’. Check out the Rs 2000 Note which is shared on Social Media below.


The Reserve Bank of India has very nearly completed preparations for introducing this new high-value currency, sources said.There has been no official word on the introduction of new notes either from the RBI or the government. The government, on the advice of the RBI , decides on various denominations of banknotes to be issued.


The incidence of cash transactions and the huge volume of high-value currencies is unique to India, notwithstanding recent efforts to move towards cashless transactions. The two topmost currencies — Rs 500 and Rs 1,000 — accounted for about 86 percent of the new currency notes added in 2014-15, according to RBI statistics.


Currency notes and coins are printed/minted at about eight units owned by the Security Printing and Minting Corporation of India Limited (SPMCIL), a finance ministry company. SMPCIL’s two currency printing units — at Dewas in Madhya Pradesh and Nashik in Maharashtra — print about 40 percent of India’s currency notes. Coins are minted at Mumbai, Hyderabad, Kolkata and Noida units of SMPCIL.

Currency notes and coins are printed/minted by the government of India on the advice of the RBI, which also estimates the denomination-wise currency needs, and co-ordinates with the government on design and security aspects.

The highest denomination note ever printed by the Reserve Bank of India was the Rs 10,000 note in 1938 and again in 1954. These notes were demonetised in 1946, and again in 1978.

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