Finance Ministry Shut Downs Rumors, Says ‘Govt Has No Plans To Relaunch Rs 1000 Notes’
Right from the inception, Government has been taking some serious measures to fill the note gaps. Everything regarding the new notes has become a trending topic post the demonetization, it was November 8th, 2016 that turned the economic phase of the country.
On the top of all that, after the release of new Rs 500 and Rs 2000 notes, Govt. recently passed a notification stating, “In exercise of the powers conferred by sub-section (1) of Section 24 of the Reserve Bank of India Act, 1934, and on the recommendations of the Central Board of Directors of the Reserve Bank of India, the Central Government hereby specifies the denomination of bank notes of the value of two hundred rupees.”
The previous sources regarding the introduction of the new Rs 1000 note have gone viral on the Internet. The just-in sources stated that the Rs 1000 notes which were demonetized during November of 2016 will be renounced now, in another avatar. The statements were given by a person, according to the sources, they read:
“The printing presses at Mysore and Salboni are getting ready to print the brand-new Rs 1,000 notes which will have enhanced security features, printing of Rs 2,000-denominated notes stopped at least six months back and now the Rs 200 notes are getting printed at these presses. Next in line for printing is the Rs 1,000 note.”
Talking about the significance of the new Rs 1000 note, the source added, “The new Rs 1,000 note will bridge missing link between the existing Rs 2,000 and Rs 500. Right now, the next denomination after Rs 500 is Rs 2,000 which creates a big gap impacting the ease of transactions.”
This news soon went viral on the social media network as it is believed that those words came out from a banker’s mouth. But, now dismissing these assumptions, the Finance Ministry has confirmed that there’s no way of re-introducing the 1000 Rs note.
Talking about this, the Deputy Economic Affairs minister Subhash Chandra Garg tweeted:
There is no proposal to reintroduce 1000 rupee note.
— Subhash Chandra Garg (@SecretaryDEA) August 29, 2017