Centre has no plan to introduce Rs 1,000 notes: Shaktikanta

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SME Times News Bureau | 22 Feb, 2017
The central government has no plans to re-introduce Rs 1,000 currency notes and will focus on lower denominations, Economic Affairs Secretary Shaktikanta Das said on Wednesday.

"(There are) No plans to introduce Rs 1,000 notes. Focus is on production and supply of Rs 500 and lower denomination notes," Das tweeted.

His clarification comes after media reports suggested the government was planning to re-introduce Rs 1,000 notes in a new avatar.

Prime Minister Narendra Modi on November 8 demonetised Rs 1,O00 and Rs 500 currency notes to fight black money and terror funding.

Subsequently, the government introduced new-look Rs 500 notes along with Rs 2,000 notes.

Referring to complaints of dry ATMs even over 100 days after the move, Das urged people to withdraw only as much cash as "they actually require".

"Overdrawal by some deprives others," he added.