Question : Printing of New Currency Notes

(a) whether any Public Sector Banks have issued any circulars to stop the circulation of Rs. 2000 currency notes through Bank ATMs across the country and also to keep control and monitor M1, M2, M3, M4 and M5 and if so, the details thereof;

(b) whether the Government has stopped printing of new Rs. 2000 currency notes;

(c) if so, the details thereof along with the total number of Rs. 2000 notes printed so far by the Government and the total number of Rs. 2000 notes in public circulation and in the RBI chest;

(d) the total number of lower denomination currencies with value of Rs. 10, 20, 50 and 100 in circulation; and

(e) the steps taken by the Government to print more lower denomination currencies of Rs. 10, 20, 50 and 100?

MINISTER OF STATE IN THE MINISTRY OF FINANCE (SHRI ANURAG SINGH THAKUR )
(a) In view of higher circulation of currency notes of Rs. 500 and Rs. 200 denominations and inconvenience faced by the customers in exchanging Rs. 2,000 currency notes, two of the public sector banks namely State Bank of India and Indian Bank have issued instructions to the field functionaries to reconfigure the ATMs for currency notes of Rs. 500 and Rs. 200 denominations.

(b) and (c): Printing of banknotes of particular denomination is decided by the Government in consultation with RBI to maintain desired denomination mix for facilitating transactional demand of public. No indent was placed with the presses for printing of Rs. 2000 denomination notes for 2019-20.However, there is no decision to discontinue the printing of Rs. 2000 banknotes.

Rs. 2000 banknotes of value Rs. 7.40 lakh crore have been printed and supplied so far. As on 5.03.2020, the total face value of banknotes of Rs. 2000 denomination in circulation and in currency chests was Rs. 5.49 lakh crore and Rs. 0.93 lakh crore, respectively.

(d) The volume and value of lower denomination currencies in circulation as on March 5, 2020 are as under:
Denomination Pieces in million Value in Rs in crore
Rs. 10 30510.79 30,510.79
Rs. 20 8309.84 16,619.60
Rs. 50 8556.84 42,784.20
Rs. 100 19624.77 1,96,247.70

(e) : The quantum of banknotes that needs to be printed broadly depends on the requirement for meeting the demand for banknotes due to inflation, GDP growth, replacement of soiled banknotes and reserve stock requirements.
As on 5th March 2020, 67002.24 mpcs of banknotes of 10, 20, 50 and 100 rupee denomination and 5005.98 mpcs of coins of 10 rupee denomination were in circulation. Printing of banknotes of particular denomination (s) is decided by the Government in consultation with RBI to maintain desired denomination mix for facilitating transactional demand of public.


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