The Reserve Bank of India (RBI) will soon be circulating the new Rs 1,000 note in a market short of cash after demonetisation, a report says.

The new Rs 1,000 note, which was earlier slated to launch in January 2017, was delayed due to the hectic printing of the new Rs 500 note.

Many have deemed the introduction of Rs 2,000 as unnecessary inconvenience as change for the high denomination note is hard to come by pertaining to the absence of Rs 1,000 notes.

The demonetisation decision, which was announced by Prime Minister Narendra Modi in November, resulted in withdrawal of more than Rs 15.44 lakh crore out of the Indian market. The RBI has managed to circulate Rs 9.92 lakh crore back in the market.

The RBI has not provided any information regarding how much demonetised notes were deposited in banks and how much of it was black money.

The circulation of Rs 1,000 notes will also bring into the question the existence of Rs 2,000 notes which might become a cause of concern for the government.

First Published | 21 February 2017 12:43 PM
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