Demonetization of ₹1000 and 500 notes was one of the huge economic transformation, Indian economy has ever faced. Though the government came up with the introduction of ₹2000 notes to bridge the gap, the latest news from RBI states that they have currently halted the printing of ₹2000 notes. This step is taken in order to focus more on printing of ₹ 200 notes, which is expected reach the open market in a few months.
The new series of ₹500 along with ₹200 and other smaller denominations is expected to be quite enough to keep the money market greased without causing much cash crunches. Chief economists’ of the country claims that RBI is bringing down the circulation of ₹2000 banknotes in order to make the right mix of currencies in circulation. Unofficial reports also claim that ₹2000 will be removed out of ATMs once ₹200 comes to circulation in open market.
