Rs.2000 notes????

On one hand, the Govt says that it is keen to bring out all the Indian black money stashed away in dark corners around the world. And then, it goes ahead and prints Rs.2000 currency notes! This too at a time when many have been demanding that RBI actually stops printing Rs.500 and Rs.1000 notes.

Yes, if Rs.1000 currency notes were not enough, the RBI has gone ahead and printed Rs.2000 notes too! The news is that RBI has nearly completed preparations for introducing this new high-value currency – they have been printed and already been despatched from the currency printing press in Mysuru.  There is no official announcement on this, maybe it will be quietly brought out into circulation.

Interestingly, way back in 1938 and then again in 1954, RBI had printed Rs.10,000 denominated notes. The ones printed in 1938 were demonetized in 1948 and that of 1954, only 24 years later in 1978.