Today’s Hindustan
Times reports :
·
RBI stopped printing Rs 2,000 notes about 5 months ago
·
It is unlikely to print more 2000 rupee
notes in the current financial year
·
Total Rs 2000 notes printed so far = Rs 7.4
trillion ( 3.7 billion pieces )
·
Rs 1000 notes withdrawn = Rs 6.3
trillion ( 6.3 billion pieces )
·
New Rs 500 notes printed so far = Rs 7 trillion ( 14
billion pieces )
·
Old Rs 500 notes withdrawn
= Rs 7.85 trillion ( 15.7 billion pieces )
·
Currency in circulation =
Rs 15.22 trillion(86 % of “
before Demo “)
·
Rs 200 notes under printing to come into circulation in Aug
·
Initially , about 1 BILLION pieces of Rs
200 notes will get released
==============================
The ostensible
reason being advanced for the introduction of Rs 200 notes is :
It
will make life easy for citizens who badly need a currency note smaller than Rs
500 , for their day to day expenses ( so true ! )
Could it also be that , the Government
plans to gradually WITHDRAW from circulation , Rs 2000 notes
?
Thereby
making difficult , large scale transactions in CASH , involving Rs 2000 notes ( - obviously
, BLACK MONEY transactions ) ?
You
need to carry only ONE KG
worth Rs 2000
notes for a transaction of Rs 20 lakh
But same amount in Rs 200 notes , will
require to lug 10
KG ! Not very inconspicuous !
If so , this step
is very welcome
But that GRAND
STRATEGY will remain incomplete without introduction of ULTRA NEW notes of Rs
2000 , made out of plastic and embedded with RFID chips , as suggested by me in
:
Embrace the Inevitable [ 13
Nov 2016 ]
And with RFID
chip embedded , there will be no need for :
·
Top Secret / sudden / surprise
announcement
·
A small 50 day window for exchange
In my plan , both ( old and the new notes of
Rs 2000 ) , can continue to be legal tenders , with ONE YEAR overlap !
26 July
2017
www.hemenparekh.in / blogs
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