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More than Rs 1 lakh crore worth of Rs 2,000 notes vanish in one year, shows RBI data

-Financial Express

The overall value of Rs 2,000 notes significantly fell to Rs 5.4 lakh crore in the fiscal year 2019-20, from Rs 6.5 lakh crore in the previous fiscal year 2018-19.

Rs 1.1 lakh crore worth of high denomination notes of Rs 2,000 vanished from the system in just one year. The overall value of Rs 2,000 notes significantly fell to Rs 5.4 lakh crore in the fiscal year 2019-20, from Rs 6.5 lakh crore in the previous fiscal year 2018-19, showed the latest data released by RBI today. On the other hand, the overall value of Rs 500 notes jumped to Rs 14.7 lakh crore in FY 2019-20, from Rs 10.7 lakh crore in FY 2018-19. In its annual report, RBI had said that no indent for the printing of Rs 2,000 currency notes was made during 2019-20 and no fresh supplies were made by BRBNMPL (Bharatiya Reserve Bank Note Mudran Private Limited) and SPMCIL (Security Printing and Minting Corporation of India Limited) as well.

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