No plans to introduce Rs 1000 notes: Shaktikanta Das

Team Udayavani, Feb 22, 2017, 12:00 PM IST

New Delhi: The government has no plans to introduce Rs 1,000 notes and the focus is on increasing production of lower denomination currencies, Economic Affairs Secretary Shaktikanta Das said today. He also said complaints of cash shortages at ATMs are being addressed and requested people to desist from withdrawing more money than they need.

“No plans to introduce Rs 1000 notes. Focus is on production and supply of Rs 500 and lower denomination notes,” he tweeted. “Complaints of cash out in ATMs being addressed. Request everyone to draw the cash they actually require. Overdrawal by some deprives others,” he said in another tweet.

Last week, Finance Minister Arun Jaitley said the remonetisation situation with regard to replenishing the scrapped currency is “almost normal” now and the Reserve Bank is monitoring the supply on a daily basis.

The government had announced withdrawal of old Rs 500 and Rs 1,000 currency notes on November 8, 2016, with an aim to check black money, counterfeit notes and terror financing.