The Reserve Bank of India (RBI) may either be holding back Rs 2,000 notes or could have stopped printing high denomination currency, says a SBI Research report.
Juxtaposing the data presented in the lok Sabha with the one provided by RBI in its Annual Report earlier, the SBI Ecoflash report on Wednesday said “we observe” that the value of small denomination currency in circulation up to March 2017 was Rs 3,501 billion.
The report said that as per the Ministry of Finance in the lok Sabha recently, the RBI has printed 16,957 million pieces of Rs 500 notes and 3,654 million pieces of Rs 2,000 notes as on December 8.
“This means that the residual amount of high currency notes (Rs 15,787 billion – Rs 13,324 billion) of Rs 2,463 billion may have been printed by the RBI but not supplied in the market,” said the report.