New Delhi: The government plans to re-introduce Rs 1,000 currency notes soon so that people don’t face problem. New series will also be introduced for Rs 100 and Rs 50 with added security features. However old notes of Rs 100 and Rs 50 will remain legal tender even when new series will be brought in.
The government on Tuesday had demonetised the Rs 500 and Rs 1,000 notes as part of its efforts to clamp down against the black money, fake currency and terror financing. These are being replaced with new currency bills of Rs 500 and Rs 2,000. “In a few months, Rs 1,000 notes with new features will be brought into the market,” said economic affairs secretary Shaktikanta Das.
Defending introduction of Rs 2,000 currency notes, finance minister Arun Jaitley said on Thursday that RBI board had recommended that due to inflation Rs 10,000 and Rs 5,000 currency notes be introduced but government didn’t accept it. “After rethinking, Rs 2,000 notes (are being introduced) and Rs 500 are being allowed,” he said.
