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RBI may Launch New Rs 1000 Banknote by December 2017

RBI may Launch Rs 1000 note in December
Written by Team Maffat

As per the latest news, Reserve Bank of India may soon launch Rs 1000 new currency note. Last year on November 8, Government announced to demonetize Rs 1000 and Rs 500 notes. RBI issued new Rs 500 note.

Now, RBI may launch Rs 1000 currency note with enhanced security features. Recently Government launched Rs 200 and Rs 50 currency notes. The government would start printing new Rs 1000 note so that it can bridge gap between Rs 500 and Rs 2000 notes.

Also the officials are preparing the design and paper for printing the Rs. 1000 note. It would have enhanced security features. And it could be out as early as December 2017.

Mysore and Salboni printing presses are getting ready for printing the new Rs 1000 notes. Government have ordered the presses to stop printing Rs 2000 notes for last 6 months. Currently presses are printing Rs 200 notes and next will be Rs 1000.

So with the comeback of Rs 1000 note, it will make low value and day-to-day transactions easy for common men.

Currently India has currency notes of Rs 1, Rs 2, Rs 5, Rs 10, Rs 20, Rs 50, Rs 100, Rs 200, Rs 500 and Rs 2000. Globally, countries have opted to use the Renard series for convenient use of currency.

On 25 August 2017, RBI released Rs 200 and Rs 50 notes. The old Rs 50 note will continue in the circulation.

However, ATMs will not dispense these new notes due to their size unless the machines and their cassettes are recalibrated.

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As per the latest news, Reserve Bank of India may soon launch Rs 1000 new currency note. Last year on November 8, Government announced to demonetize Rs 1000 and Rs 500 notes. RBI issued new Rs 500 note.


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