May 28: During demonetisation, when 500 and 1000 rupee notes were discontinued, 2000 rupee note was introduced to replace them. But such an expensive note could not last long in the pockets of Indians and is now left in mere circulation. The situation is that the share of 2000 note in the denomination notes has come down to less than 2 percent.
According to the latest RBI report, there has been a significant decline in the circulation of 2000 notes in the last financial year and their share in the total currency notes by the end of March this year has come down to 214 crores or 1.6 percent. According to the annual report of RBI, till March this year, the total number of notes of all denominations stood at 13,053 crore. The figure was 12,437 crore in the same period a year ago.
The latest annual report of RBI says nothing about these notes. Apparently, RBI has stopped printing new Rs 2,000 notes as these high denomination notes are not coming back to the banks. People are not getting Rs 2,000 notes in ATMs as before. There is a strong possibility that these notes may have been deposited as black money due to the high price.
