Reserve Bank of India (RBI) is geared up to introduce a new series of Rs 1000 note with improvised design soon as it was withdrawn from market after announcement of demonetisation on November 8, 2016.
A senior government official divulged to Indian Express that the government had already started printing the notes but high demand of Rs 500 notes shoved it at the backburner. He said the government was planning to introduce it in the month of January.
As there is no clear date that when 1000 notes would be introduced for circulation, RBI’s initiative would certainly ease the burden to change the higher denomination currency of Rs2000, which was introduced after currency ban.
Earlier, Union Finance Minister Arun Jaitley had declined of any such possibility of re-introduction of Rs 1000 note in the market.