Govt, RBI examined viability of introducing Rs 5,000 and Rs 10,000 notes

Plan has not been found suitable, MoS Finance Arjun Ram Meghwal told Lok Sabha in a written reply

The government on Friday said it had no plans to come out with Rs 5,000 and Rs 10,000 banknotes.

"The matter was examined in consultation with the Reserve Bank of India and it has not been found suitable to introduce of Rs 5,000 and Rs 10,000 note," Minister of State for Finance Arjun Ram Meghwal said in a written reply to the Lok Sabha.

He replied in negative when asked whether the government proposes to introduce Rs 5,000/10,000 denomination notes with a view to reduce the expenditure on printing of notes in future.

The government had recently introduced Rs 2,000 note along with a new Rs 500 note following the demonetisation which scrapped 86 per cent of the currency in circulation on November 8, 2016.

Economic Affairs Secretary Shaktikanta Das had in February said the government has no plans to re-introduce Rs 1,000 notes.