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RBI to launch new Rs 1000 note by December

RBI

New Delhi: Reserve Bank of India (RBI) may soon issue Rs 1,000 note by December this year, which was demonetized on November 8 last year.

The government would shortly start printing the new Rs 1,000 note to bridge the yawning gap between the existing Rs 500 and Rs 2,000 notes.

The printing presses at Mysore and Salboni are getting ready to print the brand-new Rs 1,000 notes which will have enhanced security features.

Printing of Rs 2,000-denominated notes stopped at least six months back and now the Rs 200 notes are getting printed at these presses. Next in line for printing is the Rs 1,000 note.

The Rs 1,000 note will ease day-to-day operations and be beneficial to the common man, especially in the rural and semi-urban areas which are dominated by low-value transactions.

RBI on August 25 released both the Rs 200 and Rs 50 notes. The existing Rs 50 that is already in circulation will continue to be in circulation along with the new notes that come with enhanced security features. However, ATMs will not dispense these new notes due to their size unless the machines and their cassettes are recalibrated.

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