RBI to reintroduce Rs. 1,000 currency notes? Governor Shaktikanta Das responds

Reserve Bank of India governor Shaktikanta Das on Monday (May 22) made it clear that there was no plan to reintroduce Rs. 1,000 currency notes.

Reserve Bank of India governor Shaktikanta Das on Monday (May 22) made it clear that there was no plan to reintroduce Rs. 1,000 currency notes. Addressing the media about the RBI's recent decision to withdraw Rs. 2,000 currency notes and said the impact of the move will be “very very marginal” on the economy because it accounts for only 10.8 per cent of the currency in circulation.

When asked about the potential reintroduction of Rs. 1,000 currency notes, Das responded, “That's speculative. There's currently no proposal for such a measure.”

He emphasised that the current denominations of Rs. 500 and Rs. 100 are abundant and readily accessible to the public, alleviating any apprehensions about the central bank's ability to manage without the highest-valued currency in India.