New Delhi, September 19
Although printing of Rs 2,000 denomination notes has been considerably lowered, the Centre has not determined to discontinue the excessive denomination notes.
In a written reply to a query within the Lok Sabha on Saturday, Minister of State for Finance, Anurag Thakur stated printing of financial institution notes of explicit denomination is set by the federal government in session with the Reserve Bank of India (RBI) to keep up desired denomination combine for facilitating transactional demand of public.
“During the year 2019-20 and 2020-21, no indent has been placed with the presses for printing of Rs 2000 denomination notes. However, there is no decision to discontinue the printing of Rs. 2,000 denomination bank notes by the Government,” he stated.
A complete of 273.98 crore notes of the denomination of Rs 2,000, have been in circulation as of March 31, 2020, in comparison with 329.10 crore notes in March 31, 2019.
On a query relating to the impression of the pandemic on the foreign money printing course of of assorted denomination notes, Thakur stated in response to RBI, in view of nationwide lockdown printing of notes stopped quickly.
However, the observe printing presses resumed manufacturing in a phased method, as per the rules issued by Central and state governments.
The manufacturing actions at Bharatiya Reserve Bank Note Mudran Private Limited (BRBNMPL) presses have been suspended from March 23, 2020 to May 3. Printing of financial institution notes at BRBNMPL presses resumed from May 4, 2020.
Security Printing and Minting Corporation of India Limited (SPMCIL) has knowledgeable that printing of financial institution notes at their presses was additionally affected because of the Covid-19 pandemic, he stated. —IANS