Demonetization: Government to reintroduce Rs 1000 note in new garb, says report

The government is planning to reintroduce the Rs 1000 note in a new garb, a report by The Indian Express said, quoting a senior government official. 

According to the report, the Reserve Bank of India's mints have already started printing the notes to adhere to the government's initial plan of introducing the new notes in January. However, the govt official said that the process was delayed because of a pressing need to supply Rs 500 notes. 

There are no details of the new Rs 1000 note available - what design they will take or the added security or identification features that they will come with. 

The government de-legalised the use of Rs 500 and Rs 1000 notes on November 8, 2016, removing nearly 86% (in value terms) currency from the system. They then introduced new Rs 500 and Rs 2000 notes with new designs and better security features and a picture of Mangalyaan behind the notes. 

The RBI hiked the weekly withdrawal limit for savings accounts to Rs 50,000 from the earlier Rs 24,000. From Marcy 13, all the cash withdrawal limits from savings bank accounts will be removed.