No Such Discussion: FM Arun Jaitley On Banning Rs 2,OOO Notes

Arun Jaitley, Union Finance Minister 

(Photo: Reuters)

Finance Minister Arun Jaitley on Wednesday said the government is not considering banning Rs 2,000 notes, and the Reserve Bank will decide on the timing of issuing the new Rs 200 bill.

The government has given a go-ahead to the RBI to issue Rs 200 notes, a move that is aimed at easing the pressure on lower-denomination currency.

Internet Is Running Rich With “New Rs 200” Notes

The whole process regarding the timing as to when the notes will be printed, RBI will take care of that issue. Thus, it would be appropriate for the RBI to announce the dates and matters related to the printing of notes

Finance Minister Arun Jaitley

When asked whether the government is considering to phase out Rs 2,000 notes, he said: "No, there was no such discussion".

Following the demonetisation of old Rs 500 and Rs 1,000 notes on 8 November 2016, the RBI had introduced Rs 2,000 notes and new Rs 500 notes with additional security features.

Also Read: It’s Official! India to Get Rs 200 Notes For First Time Ever

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