RBI Holding Back Rs. 2,000 Notes? Here's What SBI Report Says

[Kool_SRG]

RBI has printed 3,654 million pieces of Rs. 2,000 notes as on December 8

New Delhi: The Reserve Bank of India (RBI) may either be holding back Rs. 2,000 notes or could have stopped printing high denomination currency, says a SBI Research report.

Juxtaposing the data presented in the Lok Sabha recently with the one provided by RBI in its Annual Report earlier, the SBI Ecoflash report said on Wednesday, "we observe" that the value of small denomination currency in circulation up to March 2017 was Rs. 3,50,100 crore.

This implies that the value of high denomination notes was equivalent to Rs. 13,32,400 crore as on December 8, after netting out the small denomination notes from the currency in circulation on that day, it said.

The report further said that as per the Ministry of Finance in the Lok Sabha recently, the RBI has printed 1,695.7 crore pieces of Rs. 500 notes and 365.4 crore pieces of Rs. 2,000 notes as on December 8. The total value of such notes translates into Rs. 15,78,700 crore.

"This means that the residual amount of high currency notes (Rs. 15,78,700 crore minus Rs.13,32,400 crore) of Rs. 2,463 billion (Rs. 2,46,300 crore) may have been printed by the RBI but not supplied in the market," said the report authored Soumya Kanti Ghosh, group chief economic adviser, SBI.

Interestingly, the report added, "it is safe to assume" that Rs. 2,46,300 crore may be on the lower side as the RBI must have printed notes of small denomination in the interregnum (Rs.50 and Rs. 200). "As a logical corollary, as 2,000 denomination currency led to challenges in transactions, it thus indeed seems that RBI may have either consciously stopped printing the 2,000 denomination notes/or printing in smaller numbers after initially it was printed in ample amount to normalise the liquidity situation," said Ecoflash.

This also means that the share of small currency notes in total currency in circulation now may have touched 35 per cent in value terms, it added. The government had on November 8 last year announced demonetization of high value notes - Rs. 500 and Rs. 1,000 - which together accounted for 86-87 per cent of the currency in circulation.

The move had lead to huge cash shortage and large queues were witnessed at banks for exchange or depositing the scrapped currency. The RBI introduced a new Rs. 2,000 note as well as new version of the Rs. 500 note. Subsequently, the RBI, for the first time, also introduced a Rs. 200 note. 
 

[uttermost]

actually I just happened to get my hands on a 200rs note. absolute beauty. and even the 50rs note.

They should have released these first, instead of the ugly 2000, and the boring 500.

[Kool_SRG]

Just now, uttermost said:

actually I just happened to get my hands on a 200rs note. absolute beauty. and even the 50rs note.

They should have released these first, instead of the ugly 2000, and the boring 500.

50 Rupee note looks the best... They are yet to be circulated thru ATMs since they aren't yet calibrated to load 200 & 50 rupee notes.

 

[aakathaai]

7 minutes ago, uttermost said:

actually I just happened to get my hands on a 200rs note. absolute beauty. and even the 50rs note.

They should have released these first, instead of the ugly 2000, and the boring 500.

Old notes ye better kottha note lu chinna pillal aadukune bomma currency la type lo unnaai

[uttermost]

3 minutes ago, aakathaai said:

Old notes ye better kottha note lu chinna pillal aadukune bomma currency la type lo unnaai

yes. 1000rs note manchi royal ga undey. daani meedhaney 2000 ani print chesintey poyindedhi  

[aakathaai]

Just now, uttermost said:

yes. 1000rs note manchi royal ga undey. daani meedhaney 2000 ani print chesintey poyindedhi  

Anthe peddha denomination avasaram emundo naak ardham kaaledu ippatiki

[Kool_SRG]

3 minutes ago, aakathaai said:

Anthe peddha denomination avasaram emundo naak ardham kaaledu ippatiki

Chinna denominations printing cost ekkuva untadi , higher denominations more economical and also daachevaalaki veasy 

[uttermost]

2 minutes ago, aakathaai said:

Anthe peddha denomination avasaram emundo naak ardham kaaledu ippatiki

adhey holding it back ani report undhi ga, kool bhayya esindhi.

first just money circulation penchatam kosam 2000 vadilaaremo.

adhi edho okati. ee govt lo manushulu unnara, leka antha kothula ani naaku inka doubt.

[aakathaai]

8 minutes ago, Kool_SRG said:

Chinna denominations printing cost ekkuva untadi , higher denominations more economical and also daachevaalaki veasy 

Black money ni aithe aapalem enni new currencies vachina endoo ee beedi gadi concept

[aakathaai]

12 minutes ago, uttermost said:

adhey holding it back ani report undhi ga, kool bhayya esindhi.

first just money circulation penchatam kosam 2000 vadilaaremo.

adhi edho okati. ee govt lo manushulu unnara, leka antha kothula ani naaku inka doubt.

Advantages aithe em lev common man ki indian economy emaina impact avthuna ane daani meeda kooda no idea