No new Rs 1000 notes now, focus on Rs 500, clarifies Economic Affairs Secretary

On November 8, 2016, PM Modi announced demonetisaton, delegalising the use of Rs 500 and Rs 1000 notes and introduces new Rs 500 and Rs 2000 notes.

No new Rs 1000 notes now, focus on Rs 500, clarifies Economic Affairs Secretary

Rubbishing the reports that Reserve Bank of India will soon be issuing a new series of Rs 1000 notes, Economic Affairs Secretary Shaktikanta Das tweeted that Government has no plans as such.

This comes in the light of rumours about a new redesigned Rs 1000 note hitting the markets soon.

On Wednesday, Shaktikanta Das tweeted saying "There are no plans to introduce Rs 1000 notes." He added that the focus was on production and supply of Rs 500 and lower denomination notes."




The reports said that the notes were already in printing and the introduction date had been delayed because there was more demand for printing Rs 500 notes at the dedicated printing mints.

On November 8, 2016, PM Modi announced demonetisaton, delegalising the use of Rs 500 and Rs 1000 notes and introduces new Rs 500 and Rs 2000 notes.

Addressing the cash shortage that some people were still facing, Das said, "Complaints of cash out in ATMs (are) being addressed." He requested the people to withdraw only the amount they actually needed and not more to ensure others were not deprived of cash-on-hand.



"Request people to draw cash they actually require. Over(with)drawal by some deprives others," he tweeted.