Financial Times

New Rs 2,000 currency note
The Central Bank has announced that it has printed but not issued a new Rs 2,000 currency note to keep pace with the expanding size of the economy and enable banks and financial institutions to facilitate large value cash transactions and ATM network operations.

“The need for a higher denomination currency note is increasingly felt today since GDP has risen to a higher level of Rs 2,029,411 million in 2004,” a bank statement said.

Work on printing of the new note began in 2000 when GDP rose to Rs 1,257,636 million and the need for another higher denomination note was felt to facilitate enhanced transactions. The printing process took about 10 months and the note was ready in early November 2005.

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