Government has stepped up the printing of Rs 500 notes, reports CNBC-TV18 quoting sources. Reports that the printing of these notes has been stopped is baseless and mischievous, sources say.
The government and The Reserve Bank are fully focussed on printing the Rs 500 notes and expect the currently experienced shortage to end by the end of December. Printing of Rs 2000 notes is almost over, as per the sources.
The printing of Rs 500 notes have risen by neraly 25 percent, according to government sources. The government is also planning to start printing the new note at Mysore Mint after December 12.
Government presses in Nashik and Dewas have reportedly stepped up printing and it is now at close to 15 million pieces daily. This could be raised to 75 million pieces by switching some part of printing from Rs 2,000 to Rs 500 notes.
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