Focus Now On Printing 500 Notes, Says Government: Highlights

New Delhi: The government today said that the new 500 and 2,000-rupee notes have been completely designed in house and so their security features are very secure. Initially, Rs 2,000 notes were circulated more aggressively as the amount of money in the economy could be replenished at the earliest, now even 500 rupee notes are being pushed, said Shaktikanta Das, Economic Affairs Secretary, during a press conference today evening.

Following are the highlights of what Mr Das said:

• New notes are completely indigenously designed. So, the security features are very effective.
• Situation is improving constantly. Initially, Rs 2,000 notes were circulated more aggressively as the amount (value) of money in the economy could be replenished at the earliest. Now, even Rs 500 notes are being pushed.
• Printing of all - 2000, 500, 100, 50, and 20 - rupee notes are being done simultaneously.
• Air lifting of notes is being done wherever necessary.
• We are identifying rural areas where there is a shortage of cash and focus will be given these areas.
• Constant surveillance is being done and based on specific inputs based on data mining.
• Thereby based on specific inputs, further action is taken by the tax officials. These raids are done in a proper planned manner.
• You already heard the NITI Aayog to know how we plan to push for digital transactions.
• Three times the normal yearly supply of lower denomination notes - 100, 50, 20 and 10 - have been supplied in the last 5 weeks.
• We are double-checking the figures you see in media reports as there might be some cases of double counting. We have requested RBI and we will give the correct figures once we have them.
• The situation is improving every day.
• I do not know what the government will say on December 30. You will have to wait and see.
• More than two lakh ATMs have been recalibrated. The figure you see in some reports that only 13 per cent ATMs are dispensing cash are completely incorrect.