- Advertisement -
HomeBusinessCirculation of 2000 rupee notes reduced, its number in circulation reduced to...

Circulation of 2000 rupee notes reduced, its number in circulation reduced to 223.30 crores

In the month of November this year, the number of 2000 rupees notes in currency in circulation has come down to 223.30 crores. This is about 1.75 per cent of the total notes in circulation.

In March 2018, the number of notes of two thousand rupees in currency circulation was 336.3 crores.

The number of 2000 rupee notes is gradually decreasing due to circulation. According to the information shared by the government, in the month of November this year, the number of 2000 rupees notes in currency in circulation has come down to 223.30 crores. This is about 1.75 per cent of the total notes in circulation. In March 2018, the number of notes of two thousand rupees in currency circulation was 336.3 crores.

Recently, a report was issued by the Reserve Bank of India. According to this report, RBI will not print a single note of Rs 2000 in the current financial year. According to this report, the number of paper currency in the financial year 2020-21 was 223301 lakh pieces. In the previous financial year (2019-20), this number was 223875 lakh pieces. The value of 500 and 2000 notes in currency circulation is 85.70 percent of the total value. 500 note in the number of notes is 31.10 percent. In March 2021, another information was given to the Lok Sabha in which it was said that for the last two years, a new note of 2000 rupees has not been printed.

The number of 2000 notes continuously decreased

The then Minister of State for Finance Anurag Singh Thakur had said that as of March 30, 2018, there were 3362 million notes of 2000 in the total currency circulation. In terms of volume, it was 3.27 per cent. In terms of trade, this value was 37.26 percent. On 26 February 2021, the number of 2000 notes came down to 2499 million, which is 2.01 percent of the total notes and 17.78 percent in value.

Printing of 2000 notes stopped after April 2019

The Reserve Bank of India had issued a statement in 2019, according to which 3,542.991 million notes of 2000 were printed in the financial year 2016-17 (April 2016 to March 2017). Only 111.507 two thousand notes were printed in the next financial year i.e. 2017-18. In the next financial year 2018-19, only 46.690 million 2000 notes were printed. Not a single note of 2000 has been printed since April 2019. The government has already said that not a single note will be printed till March 2022.

500 note in highest circulation

Obviously, when the RBI is not printing 2000 notes, then some other note will be being printed more instead of it. According to the report of Mint, 2000 notes are being replaced by 200 and 500 notes. The share of the number of 500 notes in March 2017 was 5.9 per cent in the total number of notes, which increased to 19.80 per cent in March 2019. Talking about the value, the value of all 500 notes in March 2019 was 51 percent of the currency in circulation, which used to be only 22.5 percent in March 2017.

Also read, India is the most unequal country in the world, getting richer and richer while poverty is increasing rapidly

Also read, Gold Price Today: Gold became expensive again today, know where the prices reached

.

Shehnaz Ali
Shehnaz is a Corporate Communications Expert by profession and writer by Passion. She has experience of many years in the same. Her educational background in Mass communication has given her a broad base from which to approach many topics. She enjoys writing about Public relations, Corporate communications, travel, entrepreneurship, insurance, and finance among others.
- Advertisement -
Must Read
- Advertisement -
Related News
- Advertisement -