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Today Date : Friday, July 19, 2024

Has anyone seen the  Rs 2000 currency note?

Has anyone seen the Rs 2000 currency note?

On November 8, 2016, the Prime Minister Narendra Modi appeared in the Television and announced the devaluation of Rs 500, Rs.1000 currency notes. Rs 200, Rs.500 and Rs.2000 notes were injected into circulation.
Rs.2000 notes became ubiquitous while the public were facing shortage of smaller denominations. Although the nice looking 
Rs.2000 notes filled in the ATMs it has now become rare.
The Central Government introduced the Rs.2000 note stating that they want to abolish black money. 
But it was widely reported that the Rs.2000 note had become the first choice of fake currency producers. Against this background the Rs 2000 currency has started to reduce from circulation. Economists opine that the Government may have decided to reduce the Rs 2000 currency notes and have increased the Rs.500 notes. 

It has come to light that the Government has stopped printing Rs 2000 notes over the last three years. In a reply to an RTI petition, the Government has stated that in the year 
2016-17, Rs 353 crore worth Rs 2000 Notes were printed and in the year 
2017-18 it was reduced to Rs.11 crore. In the subsequent year, the Government printed only 
Rs 4.6  crore worth Rs.2000 currency notes. Hence it is clear that the Rs.2000 note has been withdrawn from circulation slowly.


However it remains a big mystery whither went Rs 1217 crore Rs 2000 notes that  the Reserve Bank printed from the year 2017 to 2021.


RTI activist, Manoranja Rai has written to the Prime Minister Narendra Modi to initiate a CBI inquiry in the issue. It has become a rare sight to spot Rs 2000 currency notes which was 37.26 percent of the total circulation. While it is being doubted whether the Government would withdraw the Rs 2000 note from circulation will it is hoped to find answer to the question whither went the Rs 2000 notes?