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Currency of 2000 rupees is decreasing in trend, printing of new note not done 2019-20: RBI report

 

The Reserve Bank of India (RBI) did not print new notes of 2,000 rupees in 2019-20. During this period, the circulation of 2,000 notes has reduced. This information has been given in the annual report of the Reserve Bank of 2019-20. According to the report, by the end of March 2018, the number of 2,000 notes in circulation was 33,632 lakhs, which came down to 32,910 lakhs by the end of March, 2019. By the end of March 2020, the number of 2,000 notes present in the circulation further reduced to 27,398 lakhs.

According to the report, the share of 2,000 notes in total currencies in circulation decreased to 2.4 percent by the end of March 2020. It was 3% by the end of March, 2019 and 3.3% by the end of March, 2018. The share of 2,000 notes has also decreased by value. According to the data, by March 2020, the share of 2,000 notes in the value of total currency notes in circulation has come down to 22.6 percent. It was 31.2 percent at the end of March, 2019 and 37.3 percent at the end of March, 2018.

According to the report, during the three years from 2018, there has been a significant increase in the circulation of 500 and 200 rupee notes. The circulation of 500 and 200 rupee notes has increased according to both price and quantity. The report states that in 2019-20 no order was placed for printing 2,000 currency notes.

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No new supply of 2,000 note

Reserve Bank of India Note Printing Pvt. Ltd. (BRBNMPL) and Security Printing and Minting Corporation of India Ltd. (SPMCIL) No new supply of 2,000 notes was made. In 2019-20, orders for banknotes were 13.1 per cent lower than a year earlier. The report says that the supply of banknotes in 2019-20 was also 23.3 percent lower than the previous year. The main reason is the COVID-19 epidemic and the ensuing lockdown.

The Reserve Bank said that in 2019-20, orders for printing of 1,463 crore notes of 500 were ordered. Out of this, 1,200 crore notes were supplied. At the same time, 1,147 crore notes were supplied on the order of printing of 1,169 crore notes in 2018-19. The report said that in 2019-20, orders were given to BRBNMPL and SPMCIL for printing 330 crore notes of 100. Similarly, orders were placed for printing 50 million 240 crore notes, 200 million 205 crore notes, 10 147 million notes and 20 125 crore notes. Most of these were supplied during the financial year.

RBI caught 4.6 fake notes

The report states that in 2019-20, 4.6 percent of the Fake Notes (FICN) caught in the banking sector were held at the level of the Reserve Bank. At the same time, 95.4 percent fake currency was detected at the level of other banks. In all, 2,96,695 counterfeit notes were caught. If compared to the previous financial year, 144.6 per cent in 10 forged notes, 28.7 per cent in 50 forged notes, 151.2 per cent in 200 forged notes and 37.5 per cent in 500 forged notes (Mahatma Gandhi-New Series). Was increased. There was a decrease of 37.7 per cent in counterfeit notes of 20, 23.7 per cent in counterfeit notes of 100 and 22.1 per cent in counterfeit notes of 2,000. 17,020 counterfeit notes of 2,000 were caught in the last financial year. This figure was 21,847 in 2018-19.

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Shehnazhttps://www.businesskhabar.com/
Shehnaz is a Corporate Communications Expert by profession and writer by Passion. She has experience of many years in the same. Her educational background in Mass communication has given her a broad base from which to approach many topics. She enjoys writing about Public relations, Corporate communications, travel, entrepreneurship, insurance, and finance among others.
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