No new Rs 1000 note to be issued, Shaktikanta Das clarifies

The Reserve  Bank of India will not be issuing a new series of Rs 1000 notes, Economic Affairs Secretary Shaktikanta Das said on Wednesday.

The statement comes after there were rumours about a new redesigned Rs 1000 note hitting the markets soon.

Das said, "There are no plans to introduce Rs 1000 notes."

He added that the focus was on production and supply of Rs 500 and lower denomination notes." 

No plans to introduce ₹1000 notes. Focus is on production and supply of ₹500 and lower denomination notes.

— Shaktikanta Das (@DasShaktikanta) February 22, 2017

The reports said that the notes were already in printing and the introduction date had been delayed because there was more demand to print Rs 500 notes at the dedicated printing mints. 

The government delegalised the use of Rs 500 and Rs 1000 notes on November 8 in its demonetization move. A new Rs 500 and Rs 2000 note was then introduced.

Addressing the cash shortage that some people were still facing, Das said, "Complaints of cash out in ATMs (are) being addressed."

He requested the people to withdraw only the amount they actually needed and not more to ensure others were not deprived of cash-on-hand. 

"Request people to draw cash they actually require. Over(with)drawal by some deprives others," he tweeted. 

Complaints of cash out in ATMs being addressed.Request everyone to draw the cash they actually require.Overdrawal by some deprives others.

— Shaktikanta Das (@DasShaktikanta) February 22, 2017