Shocking: No 2000 rupee notes printed since 2019

Minister of State for Finance Anurag Singh Thakur revealed a surprising fact of Rs. 2000 notes not getting printed for the last two years. Thakur revealed it in a report submitted to Lok Sabha. According to Thakur’s report, 3,362 million currency notes of Rs. 2000 were in circulation as of March 30, 2018. They constitute 3.27 per cent of the currency in terms of volume and 37.26 per cent of the currency in terms of trade.

As per the statistics of February 26th this year, 2499 million 2000 rupees notes were in circulation. They constitute 2.01 per cent of banknotes in terms of volume and 17.78 per cent in terms of trade. Thakur also stated that the decision of printing banknotes for a particular denomination is decided jointly by the government and the RBI. He added that there was no indent placed during the fiscal years 2019-20 and 2020-21 to print the banknotes of 2000 rupees.

The last printing of 2000 rupee notes was done in 2019. Apparently, the decision not to print the 2000 rupees notes for the last two years is an attempt to prevent the hoarding of high denomination currency, which eventually helps in curbing black money.