1000 Rs notes may not be making a comeback soon

1000 Rs notes may not be making a comeback soon

The latest news says that the government has no plans to introduce new 1000 rupee notes. Economic affairs secretary Shashikant Das declared that the focus is on production and supply of more 500 rupee bills and smaller denominations as well. Earlier the reports had said that a new series of 1000 rupee notes will soon […]

 

1000 Rs notes may not be making a comeback soon

The latest news says that the government has no plans to introduce new 1000 rupee notes. Economic affairs secretary Shashikant Das declared that the focus is on production and supply of more 500 rupee bills and smaller denominations as well. Earlier the reports had said that a new series of 1000 rupee notes will soon be launched which has now been denied by the economic affairs secretary.

Public will definitely rejoice at this news as the bigger bills have become difficult to circulate since lack of smaller denominations made it almost impossible to get the balance money back after making smaller payments. The wallets will go heavy but the burden would still be less. In the past few months, lack of shorter denominations created havoc when the people had to pay for vegetables and fruits to the local vendors in the colonies.

The change in government’s plans will act as a pacifier to the citizens.

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