The Reserve Bank of India may soon issue new Rs 1000 denomination bank note with a new design and enhanced security features compared to its predecessor.
After launching Rs 200 note for the first time in history, RBI also plans to issue new Rs 1000 currency notes which had discontinued last year during Prime Minister Modi’s demonetization move. According to close sources, the printing of the Rs 1000 denomination will soon start to fill the gap between the existing Rs 500 and Rs 2,000 notes.
A person close to the development said,” Printing of Rs 2,000-denominated notes stopped at least six months ago, and now the Rs 200 notes are getting printed at these presses. Next in line for printing is the Rs 1,000 note.”
The brand new Rs 1000 currency notes are printed by printing presses at Mysore and Salboni with improved security features. Nearly, 99% of the demonetized Rs 1000 notes came back to the banking system at the end of March 2017.The circulation of new Rs 1000 notes could be as early as December 2017.
The Reserve Bank of India issued new Rs 200 notes last week. The supply of the bright yellow Rs 200 notes will slowly incline, and the new currency note will be made available across India.
With the release of first-time Rs 200 notes is expected to address the liquidity issue and also decrease the load on the Rs 100. Long queues of peoples are gathered at the RBI offices to get Rs 200 note first time issued by central government. The aim is to make the common man transact in lower currencies.
Recently, RBI also announced new Rs 50 currency notes in fluorescent blue. The old Rs 50 notes in the earlier series will remain a legal tender. However, ATM’s will not dispense the new notes Rs 200 and Rs 50 due to their dimensions.