Folks. If news is true, India is all set to release it’s new 2000 rupee note any day now. The reserve bank of India (RBI) will be issuing the 2000 currency notes, the highest to have come in circulation yet. Some of the experts believe the higher dominations of notes should be discontinued to discontinue poverty; but what the hell.
Mysuru currency printing facility are the ones who have completed printing of these notes. The notes have already been dispatched, as reported by the BusinessLine. However it yet remains to be seen because neither the Indian government nor the central bank of India have confirmed that the 2000 rupee notes will be out in the market.
The currency notes and the currency coins are minted at about more than eight units which owned by the Security and Minting Corporation of India (SPMCIL). SPMCIL is a finance ministry company. SPMCIL have currently two printing units; at Dewas in Madhya Pradesh and Nashik in Maharashtra, where they print about 40% of the total of India’s currency notes. The Indian currency coins are minted in Mumbai, Hyderabad, Kolkata and Noida.
The currency notes and coins are printed by the government of India. But the advice and the backbone of the same is the RBI, which takes care of the denomination wise currency needs and also collaborates with the government on the design of the notes as well as the security concerns. The cash transactions and the big volume of the bigger value is very unique in India, it is accordance with the efforts to move towards cashless transactions. The two topmost currency notes; that are the 500 and the 1000, these account for more than 90% of the new currency note that were added in the year 2014-15. This is accordance to RBI statistics.
Let us now wait and see what the RBI decides and whether the 2000 rupee notes are released yet or not. While these might indeed increase the risk of black money usage; they will also promote fresh change and hence lighter carriage of notes.