Cash crisis printing of 2 thousand notes stopped
Among the complaints of cash in many states of the country, Economic Affairs Secretary Subhash Chandra Garg has said that notes worth 500, 200 and 100 rupees are convenient in transactions and printing of 500 rupees notes every day to meet additional demand 3000 crores has been increased. He further said that the situation of cash in the country is very good and additional demand is also being met. They have also told that the new notes of Rs 2,000 are not being printed anymore.
Garg further said that the foundations of the economy are not asking to increase the interest rates in the country as there is not any uneven growth in inflation or uncommon growth in inflation.
The Secretary has said that he had assessed the cash situation in the country last week and 85 percent of the ATMs were working. Overall, this (cash availability) is quite common in the country.
He has said that there is sufficient cash and it is being supplied. Additional demand is also being met. I do not think there is a problem with cash at this time.
2000 rupees notes not printing
The Secretary said that at present, the notes worth Rs. 7 lakh crore in 2000 is in the currency, which is more than enough and therefore new notes of Rs. 2000 are not being issued. 500, 200 and 100 rupees notes are the means of transactions between people.
People do not consider 2000 rupees notes very convenient in transactions. 500 rupees notes are being supplied adequately. We have increased production up to Rs 2,500-3000 crores per day.
Increase security features of currency notes to counter duplicate
Garg said that the Reserve Bank is increasing the security features of currency notes so that there is no duplicate. In the last 2.5 years, the cases of fake claims of high quality have come to the fore, but the RBI is busy looking for and exploring new features.