To bridge the gap between Rs. 500 and Rs 2000 currency notes, the government is in the process of releasing Rs. 1000 bank notes. Already the preparation in respect of the design is in full swing and its printing shall be underway in some time at the Salboni and Mysore printing presses.
"Printing of Rs 2,000-denominated notes stopped at least six months ago and now the Rs 200 notes are getting printed at these presses. Next in line for printing is the Rs 1,000 note", informed a person aware of the development.
The new Rs. 1000 bank notes shall ease the execution of transaction between Rs. 500 and Rs. 2000. The new currency shall have enhanced security features and while the Rs. 2000 currency notes shall continue to exists, government is putting more of its focus on lower value currency.
Last week only the government released the fluorescent Rs. 50 and bright yellow Rs. 50 and Rs. 200 currency notes. It is to be noted that the new currency is not being dispensed at ATMs owing to their size but still in some time after the recaliberation is performed, ATMs shall begin to dispense these new currencies as well.