January 18, 2021

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Rs 2,000 Notice: No Rs 2,000 Notice Printed In 2019-20: RBI Annual Report

Not A Single Rs 2,000 Note Printed In 2019-20: RBI Annual Report

The variety of Rs 2,000 foreign money notes has come down step by step since 2018

The Reserve Financial institution of India (RBI) on Tuesday mentioned that it has not printed any Rs 2,000 foreign money notes within the final monetary yr, 2019-20. The central financial institution, in its annual report, additionally mentioned that the variety of Rs 2,000 notes in circulation, has step by step come down since 2018. The variety of Rs 2,000 foreign money notes in circulation has come down from 33,632 lakh items at end-March 2018 to 32,910 lakh items at end-March 2019 and additional to 27,398 lakh items at end-March 2020, the report mentioned.

Additional detailing the breakdown, the report mentioned that Rs 2,000 denomination notes constituted 2.four per cent of the entire quantity of notes at end-March 2020, down from three per cent at end-March 2019 and three.three per cent at end-March 2018. In worth phrases additionally, the share has got here right down to 22.6 per cent at end-March 2020, from 31.2 per at end-March 2019 and 37.three per cent on the end-March 2018.

Then again, the circulation of foreign money notes of denomination of Rs 500 and Rs 200 has gone up considerably, each when it comes to quantity and worth over the three years starting 2018.

“In worth phrases, the share of Rs 500 and Rs 2,000 banknotes collectively accounted for 83.four per cent of the entire worth of banknotes in circulation at end-March 2020, with a pointy improve within the share of Rs 500 banknotes,” the report additionally mentioned.

RBI mentioned that the outbreak of the COVID-19 pandemic affected the provision of notes. “The provision of banknotes throughout 2019-20 was additionally decrease by 23.three per cent than within the earlier yr primarily because of the disruptions attributable to the outbreak of COVID-19 and the following lockdown,” the report mentioned.

As for counterfeit notes, the central financial institution mentioned {that a} whole of two,96,695 items of them had been detected in the course of the earlier monetary yr. The variety of counterfeit notes of Rs 2,000 detected was 17,020 items over the past fiscal, down from 21,847 in 2018-19.

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