2,000 rupee notes constitutes 35 per cent by value of the total circulation, says Garg.
The hawaldars' or human parcels' would earlier carry out largescale transactions just by matching a serial number of a rupee note or by sticking together strategically torn notes. (Representional Image)
New Delhi: India has not yet decided on further printing of 2,000 rupee notes as there are more than adequate notes of this denomination in the system, Economic Affairs Secretary Subhash Chandra Garg said.
Printing of notes is planned as per requirement, and now, 2,000 rupee notes constitutes 35 per cent by value of the total circulation, Garg added.
“There has been no recent decision regarding 2,000 rupee note production,” Garg said in a tweet.
The comment comes a day after a media report, which stated that the government has stopped printing 2,000 rupee notes and plans to phase it out.
( Source : reuters )
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