Go Ad-Free
    My Alerts
    Moneycontrol
    Moneycontrol PRO
    HomeNewsTrendsCurrent AffairsRs 1000 note to be reintroduced by RBI and govt, not clear when

    Rs 1000 note to be reintroduced by RBI and govt, not clear when

    It was supposed to be introduced in January, but the schedule has been delayed due to the need to supply 500 rupee notes to replenish the stock of old notes that were demonetized in November.

    February 21, 2017 / 12:16 IST

    The Reserve Bank of India and the government have finalised plans to launch a new series of 1000 rupee notes to replace the ones that were withdrawn, Indian Express reported citing a government official they didn’t identify.

    It is not clear when the new notes will be introduced, but the RBI has already started production.

    It was supposed to be introduced in January, but the schedule has been delayed due to the need to supply 500 rupee notes to replenish the stock of old notes that were demonetized in November.

    Prime Minister Narendra Modi on November 8 announced that 1000 and 500 rupee bank notes worth Rs. 15.44 lakh crore were being withdrawn in an effort to fight corruption and flush out black money.
    first published: Feb 21, 2017 12:16 pm

    Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!

    Subscribe to Tech Newsletters

    • On Saturdays

      Find the best of Al News in one place, specially curated for you every weekend.

    • Daily-Weekdays

      Stay on top of the latest tech trends and biggest startup news.

    Advisory Alert: It has come to our attention that certain individuals are representing themselves as affiliates of Moneycontrol and soliciting funds on the false promise of assured returns on their investments. We wish to reiterate that Moneycontrol does not solicit funds from investors and neither does it promise any assured returns. In case you are approached by anyone making such claims, please write to us at grievanceofficer@nw18.com or call on 02268882347