KNZ NEWS DESK
28 August 2017: The Reserve Bank of India is likely to release the new Rs 1000 notes as early as December 2017. The 1000 note which was demonetised on November 8 last year, is coming back in a new avatar with enhanced security features. The preparations are in full swing.
According to a report in DNA, the government would shortly start printing the new Rs 1,000 note. The government is apparently planning to bring back the Rs 1,000 currency note to fill in the gap between the existing Rs 500 and Rs 2,000 notes.
The Rs 1,000 note will ease day-to-day operations and be beneficial to the common man, especially in the rural and semi-urban areas which are dominated by low-value transactions. However, the ATMs will start dispensing new notes once they are recaliberated.
On August 25, the RBI released both the Rs 200 and Rs 50 notes. The existing Rs 50 that is already in circulation will continue to be in circulation along with the new notes that come with enhanced security features.
India currently has currency denominations of Re 1, Rs 2, Rs 5, Rs 10, Rs 20, Rs 100, Rs 500 and Rs 2,000.
