After the demonetization, it took a long time for the people to settle down with a new series of notes. Now, with the new developments to cease the increase of black money from the tax defaulters, ₹2,000 are going to burn out in the coming days. You know what? RBI hasn’t printed a single note this year.
Yes, Bharatiya Reserve Bank Note Mudran Private Limited, which prints banknotes for RBI, has not printed a single banknote of ₹2,000 denomination in this financial year. This came out when an RTI replied by RBI to a well-established newspaper. According to RBI, 3,542.991 million notes of ₹2,000 printed during the financial year 2016-17. In 2017-18, 111.507 million ₹2,000 banknotes got produced.
Economist and author Sher Singh echoed a similar view. “Possibly, they are trying to stop people from having a lot of cash or black money. Moreover, the government wants more and more digital transactions. Hoarding is also very easy with Rs 2,000 notes.” The RBI had introduced the Rs 2,000 note after the government’s sudden announcement to ban old `500 and `1,000 notes in November 2016.