26 July 2017
Bhubaneswar: The recent shortage of Rs 2,000 denomination notes can be attributed to the stop in printing of the high denomination notes by the Reserve Bank of India (RBI) since past few months, according to sources.
It is speculated that this could be a deliberate strategy to restrict the flow of high value notes in the economy. The apex bank has stepped into the production of smaller denomination including a new Rs 200 notes, according to sources. It is also speculated that the central bank is also unlikely to print more 2000-rupee notes in the current financial year.
The focus has now shifted to print small bills over the high denomination may be to bridge the gap formed by high inflow of 2000 ruppe note and fewer low currency notes, which meant that people struggled to change the high denomination note.
According to bankers and ATM service providers, there has been a sharp decline in the number of Rs 2000 notes in circulation, which means that the RBI is deliberately trying to purge in small denomination notes in the economy, and restrict the inflow of high denomination notes.