The Reserve Bank of India (RBI) is not mulling re-introduction of Rs 1,000 currency notes, sources said, amid speculations that Rs 1,000 notes may be re-introduced after the RBI announced the withdrawal of Rs 2,000 currency notes.
“RBI is not in consideration of the re-introduction of Rs 1000 note,” news agency ANI reported citing sources.
The RBI announced the removal of Rs 2,000 notes from circulation on May 19 this year and gave nearly four months to exchange the notes. The deadline was initially set to September 30, which was later extended to October 7 for the purpose.
Demonetisation
On November 8, 2016, Prime Minister Narendra Modi addressed the nation and announced the demonetisation of Rs 500 and Rs 1,000 currency notes.
He said that it was being done as a stroke on corruption and black money and also aiming to curb terrorism.
However, since the announcement of removal of Rs 2,000 notes from circulation, speculations have been doing the round that Rs 1,000 notes may be re-introduced.
Sources clarified today that the RBI is not considering the re-introduction of Rs 1,000 notes.
(With ANI inputs)