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Govt not considering ban on Rs 2,000 notes: Arun Jaitley

RBI has recently received the government's approval for issuing Rs 200 notes

Press Trust of India  |  New Delhi 

Finance Minister Arun Jaitley
Finance Minister Arun Jaitley. (Photo: PTI)

Minister on Wednesday said the is not considering banning Rs 2,000 notes, and the Reserve will decide on the timing of issuing the new Rs 200 bill.

The has given the go-ahead to the 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, will take care of that issue. Thus, it would be appropriate for the to announce about dates and related matters to the note printing," Jaitley told reporters here.

When asked whether the is considering to phase out Rs 2,000 notes, he said: "No, there was no such discussion".

Following the of old Rs 500 and Rs 1,000 notes on November 9 last year, the RBI had introduced Rs 2,000 notes and new Rs 500 notes with additional security features.

First Published: Wed, August 23 2017. 16:41 IST