The government is not considering banning Rs 2,000 notes and RBI will decide on the timing of issuing the new Rs 200 bill, said finance minister Arun Jaitley on Wednesday. “No, there was no discussion (on phasing out Rs 2,000 notes),” he said.
RBI has been given the go-ahead to issue Rs 200 notes, a move that is aimed at easing the pressure on lower-denomination currency.
“The whole process regarding by when the notes will be printed, RBI will take care of that issue. Thus, it would be appropriate for RBI to announce about dates and related matters to the note printing,” Jaitley told reporters.