Where have the Rs 2000 notes gone? Finance Ministry clarifies

Central Government said on December 12 that no fresh Rs 2000 notes have been printed from 2018-19 onwards.

Amid the demand for banning Rs 2000 currency notes, the Central Government has clarified the status of circulation of the high-value notes. BJP Rajya Sabha MP Sushil Kumar Modi recently urged the Government in Parliament to phase out Rs 2000 denomination notes in a phased manner.

After raising the issue during Zero Hour in Rajya Sabha, Modi had told news agency ANI that there was information that people had hoarded Rs 2000 notes and using them for terror funding, drug trafficking and hoarding black money.

Giving the example of developed economies like the US, China and Germany, which do not have currency notes above 100, Modi said that the Central Government should think about banning Rs 2000 notes in a phased manner so that people have time to replace them with other small denominations.