Govt To Focus On Supplying Lower Denomination Notes: Das

Posted By: Religare
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    Economic Affairs Secretary Shaktikanta Das has said that the focus of the Government is to print and supply Rs 500 and lower denomination notes to avoid accumulation of high-value currency.

    Commenting on the issue, Economic Affairs Secretary Shaktikanta Das told the media, "The approach which is now being followed is the greater focus on manufacturing and supply of Rs 500 and other lower denomination notes so that you have more Rs 500 notes... the apprehension is being expressed that Rs 2,000 notes would again lead to accumulation, (but) that should not happen."

    Govt To Focus On Supplying Lower Denomination Notes: Das

    Clarifying the reason for coming out with Rs 2,000 notes soon after demonetisation, the EAS said that this was primarily to ensure faster remonetisation.

    Besides, the government reduced the size of notes in line with international currency specifications and that resulted in 20 per cent increase in a printing of notes, he said.

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