New Delhi: There is no plan to re-introduce the Rs. 1000 note and the focus is on increasing the production and supply of Rs. 500 and lower denomination currency, Economic Affairs Secretary Shaktikanta Das tweeted on Wednesday.
No plans to introduce ₹1000 notes. Focus is on production and supply of ₹500 and lower denomination notes.
— Shaktikanta Das (@DasShaktikanta) February 22, 2017
The government has rejected reports about re-introducing Rs 1000 notes months after Prime Minister Narendra Modi declared old Rs 500 and Rs 1000 denomination notes as illegal tender.
Last week, Finance Minister Arun Jaitley said the remonetisation situation with regard to replenishing the scrapped currency was “almost normal” now and the Reserve Bank of India was monitoring the supply on a daily basis.
The government announced the withdrawal of old Rs. 500 and Rs. 1,000 notes on November 8, 2016, with the aim to check black money, counterfeit notes and terror financing.