New Rs 1000 note? No plans: Economic Affairs Secretary Shaktikanta Das makes a U-turn

New Rs 1000 note? No plans: Economic Affairs Secretary Shaktikanta Das makes a U-turn

Economic Affairs Secretary Shaktikanta Das made a complete U-turn from his earlier statement and said the government has no plan to introduce new Rs 1000 note. 

The government has rejected reports about re-introducing Rs 1000 notes months after Prime Minister Narendra Modideclared old Rs 500 and Rs 1000 denomination notes as illegal tender.

"No plans to introduce Rs 1000 note. Focus is on production and supply of Rs 500 and lower denomination notes," Economic Affairs Secretary Shaktikanta Das said in his tweet.

Complaints of cash out in ATMs being addressed. Request  everyone to draw the cash they actually require. Overdrawal by some deprives others," Das added referring to complaints of ATMs running dry in Delhi and some other metros.

Last week, Finance Minister Arun Jaitley said the remonetisation situation with regard to replenishing the scrapped currency is "almost normal" now and the Reserve Bank is monitoring the supply on a daily basis.

SHAKTIKANTA DAS'S U-TURN

The Economic Affairs Secretary's latest statement is in complete contrast to what he had saida couple of days after the November 8, 2016 demonetisation move. "In a few months, Rs 1000 notes with new features will be brought into the market," Shaktikanta Das had said while addressing the Economic Editor's Conference in New Delhi on November 10, 2016.

The Reserve Bank of India (RBI) introduced new Rs 500 and launched Rs 2000 notes in November last year. Reports claimed that printing of new design Rs 1000 has already begun and it will be introduced in the market soon. The Reserve Bank of India (RBI) had planned to launch the new note in January but it was delayed as the central bank was pre-occupied with pressing need to supply Rs 500 notes, a report in The Indian Express said.

PHOTOS OF NEW RS 1000 NOTE GO VIRAL

A sample of the new Rs 1000 is being circulated on social media. The violet coloured note bears of lot of resemblance with the new Rs 2,000 note. Interestingly, images of the new Rs 2000 note were also leaked on social media prior to its launch.

Government's sudden demonetisation decision wrecked Parliament's Winter Session making it one of the worst in terms of the level of disruptions witnessed in recent times.

The raging political storm over demonetisation saw the main opposition party - Congress - leading the attack on the BJP-led NDA government. While the opposition accused the government of ruining country's economy through demonetisation, the government said blamed the Congress and other parties of backing the corrupt.