According to The Print, RBI has has stopped printing ₹2000 notes. This by no means indicates another demonetization is on its way.
Indian Government is slowly trying to bring down the ₹2000 notes in circulation. This move comes in after suspicion of high-denomination being used for hoarding, tax evasion and money laundering.
₹2000 notes were introduced during the demonetization in November 2016. Later, in March 2018, many cities have reported a massive shortage of high denomination which feared another demonetization in Indian citizens.
Twitter has a word or two to say.
My brother (works in the film/advtg industry) told me three months ago that I should get rid of whatever 2000 rupee notes I have. Industry insiders were apparently suspecting another round of demonetisation in March/April. https://t.co/QC3A1JQO8s
— Paroma Mukherjee (@ParomaMukherjee) January 3, 2019
A 2000 rupee note was a stupid idea anyway. Just an excuse for the mess that they created.
— Sarita Falcão (@saritafalcao14) January 3, 2019
Wise decision to stop printing new 2k notes. Infact an another demonitisation of 2000 notes us welcome.
— Murli Narasimhan (@murlidn007) January 3, 2019
Good decision# what is the use of this big currency notes for AAAAM AADMI
— Thiru (@thirumalpalle) January 3, 2019
Rs.2000 notes no more being printed.
Reason? They are leading to tax evasion and hoarding.
What? This is what all experts said from Day 1, only to get no answers.#2000notes #currency
— Sandeep Manudhane (@sandeep_PT) January 3, 2019
Now what is the biggest trouble posed by this magical ₹2000 notes?
Sudden jump in counterfeits.
As of Mar 2018, 18567 numbers of counterfeit ₹2000 notes detected by banking system alone.
Recall that ₹1000 notes introduced in 2000, took 8 years to cross 10K counterfeit mark
— James Wilson (@jamewils) January 3, 2019
