Finance Minister Arun Jaitley on Wednesday said the government is not considering banning Rs 2,000 notes, and the Reserve Bank will decide on the timing of issuing the new Rs 200 bill.
The government has given a go-ahead to the RBI to issue Rs 200 notes, a move that is aimed at easing the pressure on lower-denomination currency.
Finance Minister Arun JaitleyThe whole process regarding the timing as to when the notes will be printed, RBI will take care of that issue. Thus, it would be appropriate for the RBI to announce the dates and matters related to the printing of notes
When asked whether the government is considering to phase out Rs 2,000 notes, he said: "No, there was no such discussion".
Following the demonetisation of old Rs 500 and Rs 1,000 notes on 8 November 2016, the RBI had introduced Rs 2,000 notes and new Rs 500 notes with additional security features.
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