There is no possibility of bringing back note of Rs. 1000: Arun Jaitley

Business
Aug 30 2017 10:04 AM
News Track

There is no possibility of bringing back note of Rs. 1000: Arun Jaitley

New Delhi: Will the 1,000 rupee note be returned? Many people are expecting this note to come back, but today the Finance Ministry has given up on these expectations. The Ministry of Finance today completely rejected the possibility of bringing the Rs 1,000 notes back. A few days after presenting a note of 200 rupees, the prospects for the re-issue of 1000 notes from the Finance Ministry have been abolished.

Economic Affairs Secretary Subhash Chandra Garg tweeted, "There is no proposal to bring the notes of 1000 rupees again." His statement has come in the midst of reports that the government can bring a note of 1000 rupees.

Last year, on November 8, Prime Minister Narendra Modi had announced the closure of 1,000 and 500 notes under the ban on bonds. Later, new notes of 500 and 2000 rupees were issued.

200 rupees note on 25th August:

Reserve Bank of India on August 25 issued a new yellow 200 note. Its purpose is to replenish the lack of notes of value between notes of 100 and 500. In addition to 200 rupees a new note of Rs 50 has also been released this month. The Reserve Bank has already said that it will increase the supply of 200 rupees notes, which can eliminate the problems for small notes in the country.

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