According to the data, by March 2020, the share of 2,000 notes in the value of the total currency in circulation has come down to 22.6 percent. It was 31.2 percent by the end of March, 2019 and 37.3 percent by the end of March, 2018.
The Reserve Bank of India did not print new Rs 2,000 notes in 2019-20. The circulation of 2,000 notes has reduced during this period. This information is given in the annual report of the Reserve Bank of 2019-20.
According to the report, the number of 2,000 notes in circulation at the end of March 2018 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 lakh.
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 percent by the end of March, 2019 and 3.3 percent by the end of March, 2018.
The value of 2,000 notes has also declined by value. According to the data, by March 2020, the share of 2,000 notes in the value of the total currency in circulation has come down to 22.6 percent. It was 31.2 percent by the end of March, 2019 and 37.3 percent by the end of March, 2018.
According to the report, there has been a significant increase in the circulation of 500 and 200 rupee notes during the three years from 2018. The circulation of 500 and 200 rupee notes has increased in terms of both value and quantity.
The report said that no orders were placed for printing 2,000 currency notes in 2019-20. 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 percent 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 for this 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 placed. Out of this, 1,200 crore notes were supplied. In 2018-19, 1,147 crore notes were supplied on the order of printing of 1,169 crore notes.
The report said that in 2019-20, orders were given to BRBNMPL and SPMCIL to print 330 crore notes of 100. Similarly, orders were placed for printing 240 crore notes of 50, 205 crore notes of 200, 147 crore notes of 10 and 125 crore notes of 20. Most of these were supplied during the financial year.
The report said 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 counterfeit notes were detected at the level of other banks. In total, 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.
At the same time, there was a decrease of 37.7 percent in fake notes of 20, 23.7 percent in fake notes of 100 and 22.1 percent in fake 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.
(Courtesy- Language PTI)