The Reserve Bank of India informed that there was no fresh supply of Rs 2,000 notes in 2020-21 as in the previous year. The Reserve Bank last supplied 467 lakh Rs 2,000 notes in 2018-19. The overall supply of notes remained marginally lower by 0.3 percent at 2,23,301 lakh pieces in FY21 against 2,23,875 lakh pieces the previous year, the RBI Annual Report said.
However, it increased the supply of Rs 20 notes from 13,390 lakh pieces in 2019-20 to 38,250 lakh pieces in 2020-21. The number of Rs 2,000 currency notes in circulation came down from 33,632 lakh pieces at end-March 2018 to 32,910 lakh pieces at end-March 2019 and further to 27,398 lakh pieces at end-March 2020, the RBI Annual Report 2020 said.
The Rs 500 denomination note and Rs. 2,000 denomination notes have the highest value of currency in circulation in the economy, making up 85.7 percent of all value that bank notes in circulation. The figure is slightly higher than last year’s 83.4 percent.
Rs 500 denomination notes alone makes up for 31.1 percent of all bank notes in circulation in terms of volume.