Rs 2,000 Currency Notes See Drastic Fall In Circulation Since Last 3 Years

In November 2021, the variety of Rs 2,000 denomination foreign money notes in circulation (NIC) had come all the way down to 223.3 crore items, which is 1.75 per cent of complete NIC. This is a pointy fall, in comparison with 336.3 crore items of those notes, which have been in circulation in March 2018.The Rs 2,000 denomination notes have been introduced in by the federal government put up demonetisation, with the purpose of curbing black cash, in November 2016.Giving this element in Parliament, minister of state for finance, Pankaj Chaudhary whereas responding to an unstarred query in Rajya Sabha on Tuesday stated that printing of financial institution notes of a selected denomination is determined by the federal government after consulting the Reserve Bank of India (RBI)."As against 3,363 million pieces (mpcs) of Rs 2,000 denomination banknotes in circulation on March 31, 2018 constituting 3.27 per cent and 37.26 per cent of NIC in terms of volume and value respectively, 2,233 mpcs were in circulation on November 26, 2021, constituting 1.75 per cent and 15.11 per cent of NIC in terms of volume and value, respectively," the minister stated within the written reply.Mr Chaudhary added that no contemporary indent has been positioned with foreign money printing presses for the Rs 2,000 denomination banknote from 2018-19 onwards. He additionally stated that notes exit of circulation after they get mutilated or dirty.Following the federal government's demonetisation transfer on November 8, 2016, when it had declared the then prevailing Rs 500 and Rs 1,000 denomination notes invalid, the Rs 2,000 notes and a brand new series of Rs 500 notes have been launched.