Amid speculations that Government is planning to around to discontinue high-value notes (Rs 2000) from circulation, Minister of State for Finance Anurag Thakur has said that government has 'no plan' to withdraw Rs 2,000 notes and these are being dispensed through many bank ATMs.
In a written reply in Lok Sabha, the Minister said that in view of the higher circulation of Rs 500 and Rs 200 denomination banknotes, State Bank of India, India's largest lender has issued a communication to its local head offices to reconfigure ATMs for currency notes of the said denominations.
With less number of Rs 2,000 notes visible in the market for the last couple of month s there was speculation that government may be planning to take it out of circulation.
Thakur said that as getting change for Rs 2,000 notes was becoming a problem, SBI and Indian Bank decided to reconfigure their ATM to support lower denomination Rs 500 and Rs 200 notes.
He clarified that printing of notes was done by the government on the advise of RBI and while doing so effort is made to maintain balance of currencies in circulation.
Currently, Rs 7.40 lakh crore worth of Rs 2,000 notes are in circulation. The circulation of Rs 100 notes is of the value of Rs 1.96 lakh crore while that of Rs 50 nite is Rs 43,784 crore.
(With IANS inputs)