Post demonetisation in November 2016, the Reserve Bank has introduced Rs 200 and Rs 2,000 notes. Besides, it came out with smaller notes of Rs 10, Rs 20, Rs 50, Rs 100 and Rs 500.
“Q1 GDP at 8.2 per cent is a statistic. Rupee at 70 to a dollar is a reality", wrote Chidambaram.
However he added that the repayment of funds, which was raised from overseas market in 2013, has been a main reason for rupee depreciation in the past few months.
“Indian currency notes are being and will be printed only in Indian government and RBI currency presses,” the government has clarified.
Gujarat: Men wearing PM Modi masks shower currency notes on 'bhajan' singers
Normally a currency printing cycle is of 15 days, meaning thereby the increased number of currencies which are being printed beginning this week would be available only towards the end of this month.
"The ink used to print the notes is imported, which is not available now, leading to a halt in the printing of these Rs 200 and Rs 500 banknotes," Jagdish Godse, the president of press workers federation told reporters.
A statement from the Finance Ministry confirmed reports of cash shortages and some ATMs running dry or becoming non-functional in some parts of the country.
The list is a part of the semi-annual report on "Macroeconomic and Foreign Exchange Policies of Major Trading Partners of the United States" prepared by the US Department of Treasury for the US Congress.
High currency notes of Rs 2,463 billion may have been printed by the RBI but not supplied in the market, said the report authored by SBI’s group chief economic adviser.
Opposition Congress, supported by TMC and JD(U), today forced four adjournments of the proceedings in the Rajya Sabha over what it called as "biggest scam of this century" in the printing of two different kinds of 500- and 2000-rupee notes
The rupee had surged 37 paise yesterday in its best single-day show this year to breach the psychological 64-level
The RBI is learnt to have stopped printing Rs 2,000 notes around five months ago and is unlikely to take up further printing of the pink bills this financial year
Leaving no stone unturned to tighten the noose around black money hoarders, the Income Tax department will investigate over 60,000 individuals under the second phase of the 'Operation Clean Money'.
In order to check counterfeiting of currency notes, the government has planned to change security features of higher denomination banknotes Rs 2,000 and Rs 500 every 3-4 years in accordance with global standards.
There has been an increase of 584 per cent in digital transactions done through the Unified Payments Interface (UPI) since demonetisation in November last year, said an official release on Thursday.
Describing demonetisation as an attempt 'akin to striking a rock with an egg', eminent Austrian economist Heinz D Kurz has said it is 'much too weak and misdirected an instrument' to root out corruption.