Categories: IndiaPolitics

No Proposal To Withdraw The New Rs.2,000 Notes-Says Arun Jaitley

On Friday, the Finance Minister, Arun Jaitley has said that there is no plan to withdraw the Rs.2,000 denomination bank notes that were introduced post demonetisation. The Rs.2,000 banknotes were introduced along with new Rs 500 currency following the withdrawal of old Rs 500 and Rs 1,000 notes from November 9, 2016.

The Finance Minister said in a written reply to the Lok Sabha as quoted “There is no proposal to withdraw the Rs. 2,000 denomination banknote.” Mr.Jaitley further said that the Rs.500 and Rs.1,000 notes returned to the currency chests of the Reserve Bank of India (RBI) amounted to about Rs.12.44 lakh crore as of December 10, 2016.

The Rs.2,000 banknotes were introduced along with new Rs 500 currency following the withdrawal of old Rs 500 and Rs 1,000 notes from November 9, 2016

He further added that the data obtained in this regard would need to be reconciled with the physical cash balances to eliminate counterfeit notes, accounting errors and possible double counts after which only the final figures will arrive at a conclusion. He said that as of March 3, 2017, Rs.12 lakh crore currency is currently in circulation. As of January 27, the currency circulation was Rs. 9.921 lakh crore.

Click Here For Latest India News

Mr.Jaitley said the cash recall seeks to create a new “normal” wherein the GDP will be bigger, cleaner and real. “The exercise is a part of the government’s resolve to eliminate corruption, black money, counterfeit currency and terror funding,” he added. “The exercise has resulted in an increase in deposits with banks, and this will facilitate reduction of interest rates and provide more headroom to banks to expand their credit base,” the minister added.

Following the demonetization, several restrictions were imposed on the withdrawal from banks as well as the ATMs. The notes were introduced along with the new denomination notes of Rs. 500, following the abandonment of old Rs.500 and Rs.1,000 notes from November 9, 2016. The restrictions have been gradually removed.

Harish Kumar

I am the founder and Chief Editor of, Our goal is to provide the most entertaining content for our users. Contact me at

Leave a Reply

Your email address will not be published. Required fields are marked*

Published by
Harish Kumar

Recent Posts

Pragya Nagra Wiki, Biography, Age, Movies, Videos, Images

Pragya Nagra is a young Indian actress, model, and social media personality aged 22 who…

1 day ago

Sonia Akula (Actress) Wiki, Biography, Age, Movies, Photos

Sonia Akula is an aspiring actress featured in Telugu movies. She made her acting debut…

1 day ago

Swathi Deekshith (Bigg Boss Telugu 4) Wiki, Biography, Age, Movies, Family, Images

Swathi Deekshith is an Indian movie actress, who primarily works in Telugu, Tamil and Bengali…

2 days ago

Pallavi Balasubrahmanyam Wiki, Biography, Age, Family, Songs, Images

Pallavi is the daughter of the late legendary singer SP Balasubrahmanyam. She has a brother…

2 days ago

Pasta Ullu Web Series (2020): Madhurima Tuli | Cast | Full Episode

Watch Pasta Ullu web series full episode online: Pasta is an upcoming ullu web series…

2 days ago