<p>The government today categorically said there was no proposal to discontinue Rs 2,000 currency note, which was introduced post demonetisation in November 2016.</p>

<p>The government also informed the Lok Sabha that it had decided to conduct field trials of plastic currency notes of Rs 10 in five cites.</p>

<p>&quot;There is no proposal under consideration of the government to stop Rs 2,000 note,&quot; Minister of State for Finance P Radhakrishnan said in a written reply in the Lok Sabha to a question whether the finance ministry has any plan to stop the note in near future.</p>

<p>The sizes of new Rs 500 and Rs 2,000 denomination in the Mahatma Gandhi (New) series is 66mm X 150 mm and 66 mm and 166 mm, respectively.</p>

<p>The difference between the two currency notes is 10 mm for easy identification, he said in reply to another question.</p>

<p>The government had scrapped old Rs 500 and Rs 1,000 notes on November 9 with an aim to check black money and push digital economy.</p>

<p>As regards plastic notes, the minister said: &quot;It has been decided to conduct field trial of plastic banknotes in denominations of Rs 10 at five locations&quot;.</p>

<p>The trial would be conducted in Kochi, Mysore, Jaipur, Shimla and Bhubaneshwar, he said, adding that the note will be printed in Indian presses on imported substrate.</p>

<p>He, however, did not specified any timeline.&nbsp;</p>


The government also informed the Lok Sabha that it had decided to conduct field trials of plastic currency notes of Rs 10 in five cites

The government today categorically said there was no proposal to discontinue Rs 2,000 currency note, which was introduced post demonetisation in November 2016. The government also informed the Lok Sabha that it had decided to conduct field trials of plastic currency notes of Rs 10 in five cites. "There is no proposal under consideration of the government to stop Rs 2,000 note," Minister of State for Finance P Radhakrishnan said in a written reply in the Lok Sabha to a question whether the finance ministry has any plan to stop the note in near future. The sizes of new Rs 500 and Rs 2,000 denomination in the Mahatma Gandhi (New) series is 66mm X 150 mm and 66 mm and 166 mm, respectively. The difference between the two currency notes is 10 mm for easy identification, he said in reply to another question. The government had scrapped old Rs 500 and Rs 1,000 notes on November 9 with an aim to check black money and push digital economy. As regards plastic notes, the minister said: "It has been decided to conduct field trial of plastic banknotes in denominations of Rs 10 at five locations". The trial would be conducted in Kochi, Mysore, Jaipur, Shimla and Bhubaneshwar, he said, adding that the note will be printed in Indian presses on imported substrate. He, however, did not specified any timeline.

Rs 2,000 notes will not be discontinued: Government

<p>The economic affairs secretary Wednesday quashed rumours of a new Rs 1,000 note being rolled out.&nbsp;</p>

<p>&quot;No plans to introduce Rs 1000 notes. Focus is on production &amp; supply of Rs 500 and lower deonomination notes,&quot; Shaktikanta Das tweeted.&nbsp;</p>

<p>Social media had been abuzz recently with the rumour that a new note was in the offing.</p>

<p>The government had demonetised the old Rs 1,000 and Rs 500 notes on November 8 last year. It has since then rolled out new Rs 2,000 and Rs 500 notes.</p>

<p>The demonetisation of the old notes added up 86 per cent of the country&#39;s currency being taken out of circulation, leading to severe problems all around.&nbsp;</p>

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<p dir="ltr" lang="en">No plans to introduce ?1000 notes. Focus is on production &amp; supply of ?500 &amp; lower denomination notes,tweets Eco Affairs Secy Shaktikant Das <a href="https://t.co/k3ugryuJVU">pic.twitter.com/k3ugryuJVU</a></p>
&mdash; ANI (@ANI_news) <a href="https://twitter.com/ANI_news/status/834269088687980544">February 22, 2017</a></blockquote>
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<p dir="ltr" lang="en">Complaints of cash out in ATMs being addressed.Request ppl to draw cash they actually require.Overdrawal by some deprives others ,tweets Das <a href="https://t.co/qPv9qSIiiY">pic.twitter.com/qPv9qSIiiY</a></p>
&mdash; ANI (@ANI_news) <a href="https://twitter.com/ANI_news/status/834270122860826624">February 22, 2017</a></blockquote>
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<p dir="ltr" lang="en">Enough cash available. Logistics, issues of reloading ATMs more frequently being addressed, tweets Economic Affairs Secy Shaktikanta Das <a href="https://t.co/Ea3iB0tS5f">pic.twitter.com/Ea3iB0tS5f</a></p>
&mdash; ANI (@ANI_news) <a href="https://twitter.com/ANI_news/status/834310258952634369">February 22, 2017</a></blockquote>
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<p>Das addressed some of those problems too on Wednesday, tweeting: &quot;Complaints of cash out in ATMs being addressed.&quot;&nbsp;</p>

<p>But he put the onus on the people, saying, &quot;Request ppl to draw cash they actually require. Overdrawal by some deprives others.&quot;</p>

<p>He added: &quot;Enough cash available. Logistics, issues of reloading ATMs more frequently being addressed.&quot;&nbsp;</p>

<p>(WION)</p>


Social media had been abuzz recently with the rumour that a new note was in the offing

The economic affairs secretary Wednesday quashed rumours of a new Rs 1,000 note being rolled out. "No plans to introduce Rs 1000 notes. Focus is on production & supply of Rs 500 and lower deonomination notes," Shaktikanta Das tweeted. Social media had been abuzz recently with the rumour that a new note was in the offing. The government had demonetised the old Rs 1,000 and Rs 500 notes on November 8 last year. It has since then rolled out new Rs 2,000 and Rs 500 notes. The demonetisation of the old notes added up 86 per cent of the country's currency being taken out of circulation, leading to severe problems all around. No plans to introduce ?1000 notes. Focus is on production & supply of ?500 & lower denomination notes,tweets Eco Affairs Secy Shaktikant Das pic.twitter.com/k3ugryuJVU — ANI (@ANI_news) February 22, 2017 × Complaints of cash out in ATMs being addressed.Request ppl to draw cash they actually require.Overdrawal by some deprives others ,tweets Das pic.twitter.com/qPv9qSIiiY — ANI (@ANI_news) February 22, 2017 × Enough cash available. Logistics, issues of reloading ATMs more frequently being addressed, tweets Economic Affairs Secy Shaktikanta Das pic.twitter.com/Ea3iB0tS5f — ANI (@ANI_news) February 22, 2017 × Das addressed some of those problems too on Wednesday, tweeting: "Complaints of cash out in ATMs being addressed." But he put the onus on the people, saying, "Request ppl to draw cash they actually require. Overdrawal by some deprives others." He added: "Enough cash available. Logistics, issues of reloading ATMs more frequently being addressed." (WION)

Demonetisation: No new Rs 1,000 note coming, says Shaktikanta Das

<p>After his speech in the Rajya Sabha on demonetisation, former Prime Minister Manmohan Singh has elaborated on his comments in a column in The Hindu on Friday.</p>

<p>Singh wrote that in the attempt to crack down on black money, the government had made it easier to generate unaccounted wealth with the introduction of a Rs.2,000 note. &quot;This brazen policy measure has neither tackled the stock of black money holistically nor has it stemmed the flow of it,&quot; he opined.</p>

<p>In his column, Singh acknowledged the intentions of Prime Minister Narendra Modi&#39;s move to crack down on fake currency and black money, calling them &quot;honourable&quot; and deserving of whole-hearted support. However, the former PM derided &quot;the false notion that &lsquo;all cash is black money and all black money is in cash&rsquo;&quot;.&nbsp;</p>

<p>&quot;This is far from reality,&quot; he wrote.</p>

<p>Asserting that 90% of the country&#39;s workforce still earned their wages in cash, Singh said that &quot;cash is the bedrock of the lives of these people&quot;. He added that seeing long lines of poor Indians standing to withdraw money for basic sustenance was &quot;heartbreaking&quot;.</p>

<p>Singh wrote that consumer confidence had taken a hit because of the sudden note ban and that this could lead to &quot;severe economic ramifications&quot;. &quot;The macroeconomic impact of this decision of the government is likely to be hazardous,&quot; he said.</p>

<p>The former PM warned of tough times in the next several months as the &quot;ripple effects&quot; of the demonetization decision would be felt on GDP growth and job creation.</p>

<p>Speech in Rajya Sabha<br />
On Nov 24, in a speech in that Parliament, Singh had termed the roll out of demonetization as &quot;monumental mismanagement&quot; and a case of &quot; organised loot and legalised plunder.&quot;</p>

<p>Singh, who was fielded by the Congress to take on the government made an uncharacteristically hard-hitting speech in the Rajya Sabha in the presence of Modi. The economist- politician said the drive will result in a decline of 2% in GDP and went ahead to warn that it could be an &quot;under estimation&quot;.</p>

<p>&quot;These measures convinced me that the way the scheme has been implemented, it&#39;s a monumental management failure. And, in fact, it is a case of organised loot and legalised plunder. It is not my intention to pick holes what this side or other side does. But I sincerely hope that the PM even in this late hour will help find us practical and pragmatic ways to provide relief to the suffering of the people of this country,&quot; a usually reticent Singh said, attacking the Modi dispensation.</p>

<p>Singh claimed agriculture, the unorganised sector and small industries have been hit hard by demonetization and people were losing faith in the currency and banking system.</p>

<p>&quot;My own feeling is that the national income, that is the GDP of the country, can decline by about 2 percentage points as a result of what has been done. This is an under estimate and not an over estimate. Therefore, I feel the Prime Minister must come with some constructive proposal on how we can implement the scheme and at the same time prevent the distrust that has been caused to the common people,&quot; Singh said.</p>

<p>The BJP later hit out at the former Prime Minister, saying he &quot;lacks credibility&quot; for such an attack as he himself headed the most &quot;corrupt regime ever&quot;. &quot;Manmohan Singh attacking this government for fight against black money lacks credibility. He himself in his 10 years&#39; regime, had not only failed in tackling black money, but is seen as heading the (most) corrupt regime ever in this country. He was responsible for accumulation of black money,&quot; BJP General Secretary said on December 4.</p>

<p>(This report first appeared in DNA)</p>


The former India PM warned of tough months ahead as the 'ripple effects' of demonetisation are felt

After his speech in the Rajya Sabha on demonetisation, former Prime Minister Manmohan Singh has elaborated on his comments in a column in The Hindu on Friday. Singh wrote that in the attempt to crack down on black money, the government had made it easier to generate unaccounted wealth with the introduction of a Rs.2,000 note. "This brazen policy measure has neither tackled the stock of black money holistically nor has it stemmed the flow of it," he opined. In his column, Singh acknowledged the intentions of Prime Minister Narendra Modi's move to crack down on fake currency and black money, calling them "honourable" and deserving of whole-hearted support. However, the former PM derided "the false notion that ‘all cash is black money and all black money is in cash’". "This is far from reality," he wrote. Asserting that 90% of the country's workforce still earned their wages in cash, Singh said that "cash is the bedrock of the lives of these people". He added that seeing long lines of poor Indians standing to withdraw money for basic sustenance was "heartbreaking". Singh wrote that consumer confidence had taken a hit because of the sudden note ban and that this could lead to "severe economic ramifications". "The macroeconomic impact of this decision of the government is likely to be hazardous," he said. The former PM warned of tough times in the next several months as the "ripple effects" of the demonetization decision would be felt on GDP growth and job creation. Speech in Rajya Sabha On Nov 24, in a speech in that Parliament, Singh had termed the roll out of demonetization as "monumental mismanagement" and a case of " organised loot and legalised plunder." Singh, who was fielded by the Congress to take on the government made an uncharacteristically hard-hitting speech in the Rajya Sabha in the presence of Modi. The economist- politician said the drive will result in a decline of 2% in GDP and went ahead to warn that it could be an "under estimation". "These measures convinced me that the way the scheme has been implemented, it's a monumental management failure. And, in fact, it is a case of organised loot and legalised plunder. It is not my intention to pick holes what this side or other side does. But I sincerely hope that the PM even in this late hour will help find us practical and pragmatic ways to provide relief to the suffering of the people of this country," a usually reticent Singh said, attacking the Modi dispensation. Singh claimed agriculture, the unorganised sector and small industries have been hit hard by demonetization and people were losing faith in the currency and banking system. "My own feeling is that the national income, that is the GDP of the country, can decline by about 2 percentage points as a result of what has been done. This is an under estimate and not an over estimate. Therefore, I feel the Prime Minister must come with some constructive proposal on how we can implement the scheme and at the same time prevent the distrust that has been caused to the common people," Singh said. The BJP later hit out at the former Prime Minister, saying he "lacks credibility" for such an attack as he himself headed the most "corrupt regime ever". "Manmohan Singh attacking this government for fight against black money lacks credibility. He himself in his 10 years' regime, had not only failed in tackling black money, but is seen as heading the (most) corrupt regime ever in this country. He was responsible for accumulation of black money," BJP General Secretary said on December 4. (This report first appeared in DNA)

Manmohan Singh: Rs 2,000 note makes it easier to generate unaccounted wealth

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