Shortly after the ban, these fears have persisted due to the fact that 2000 rupees note will soon be out of circulation. It is not possible to say where this threat of withdrawal of 2000 notes, but no such possibility has been dismissed by the government on many occasions. Let me tell you that on 10th August, 2018, the Government has been cleared that there is no proposal to withdraw the 2000 rupees notes. The Lok Sabha was asked whether the government is considering to withdraw the 2000 note soon. In response to this question, Minister of State for Finance P Radhakrishnan said, "There is no such proposal."
The hoarding of the 2000 rupee note was received by the Reserve Bank of India on 28 November 2018. According to these figures, the currency in circulation decreased between November 9 and November 23, amounting to Rs 11,600 crore, according to experts. This trend of currency shortage came in the wake of withdrawal of notes of 2000 rupees. To know the real picture, INDIA TODAY has filed a petition in the Reserve Bank of India under the Right to Information (RTI) Act. The petition sought information on the figures of 2000 new notes being printed. RBI has sent this petition to the currency note press. The reply received from the press is as follows: "According to available records, the RBI did not give any order to print the currency notes of rupees 2000 to the currency notes press, Nasik, so they were not printed."
On the information sought for 500 rupees notes, the currency note press replied - "3565.500 million new notes of Rs 500 rupees were disposed up to the Reserve Bank of India till September 14, 2018. It also said that the new note of Rs 500 The printing cost of 2 rupees 81 paise per note. Madan Sabnavis, Chief Economist, Care Ratings told New Indian Express that only this reason can be understood that 2,000 notes are being withdrawn slowly and the currency notes of small value are being printed. Otherwise, there is no shortage of currency in circulation. 'The reply of our RTI petition which came from the currency note press, it seems that the answer coincides with the latest RBI figures. This means that the government can gradually eliminate 2000 notes completely from circulation in a phased manner.