New Rs 1000 Currency Note Is Coming With Enhanced Security Features!

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The report further said that 8.9 crore old Rs 1,000 notes out of 632.6 crore yet to be returned post demonetisation.

"The printing presses at Mysore and Salboni are getting ready to print the brand-new Rs 1,000 notes which will have enhanced security features", the person has been quoted as saying in the report. Barring Rs 100 notes, the detection of counterfeit notes increased across denominations, notably Rs 500 and Rs 1,000 during 2016-17.

The notes of Rs 200 notes came into circulation from last week in banks and now the Reserve Bank of India is in plans to introduce Rs 1000 notes, which have been banned past year. As of March 31, 2016, there were 1,570.7 crore Rs 500 notes in circulation. The share of newly introduced 2000 banknotes in the total value of banknotes in circulation was 50.2% at end-March 2017.

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"There is no proposal to reintroduce Rs 1000 note", Economic Affairs Secretary Subhash Chandra Garg said in a tweet. But expectations of various quarters that sizable portion of the demonetised currency won't return has not been fulfilled. "That is 1%. Shame on RBI which "recommended" demonetisation".

The RBI also launched Rs 200 notes on Friday, August 25. A close source to DNA said that, Preparations for the design and the paper for printing the Rs 1,000 note are in full swing.

The government replaced old Rs 500 notes with new ones, but no replacement for Rs 1000 notes has been made. The demonetization was meant for eliminating black money from the market, reducing corruption and countering terrorist activities. "The economists deserve Nobel Prize", Chidambaram said. These were issued by select RBI offices and some banks. "Going forward, the Reserve Bank would continue its efforts towards migrating to a less-cash economy while ensuring safety and enhancing the efficiency of the payments system". He said the demonetisation was not a move to confiscate currency. "On November 4, 2016, CIC had scaled an all-time high of Rs 18 trillion taking RM (Reserve Money) to a peak of Rs 22.5 trillion", the report said.