Mysuru Press printing only Rs 500 notes now

All resources at the Reserve Bank's printing press in Mysuru are being channelised to only print Rs 500 notes. In a bid to ease cash crunch and mad scramble for change in the country, the Mysuru press has been engaged to only produce new Rs 500 notes.

The Press had stopped production of all other currencies for over 2 months and had only printed Rs 2000 and Rs 500 notes. With most ATMs recalibrated to dispense Rs 2000 notes and most banks only transacting with Rs 2000 currency notes, breaking the high value note has become a problem with Rs 100 notes becoming scarce.

To counter this issue and ease the burden of cash crunch, the mysore printing press has now stopped printing of Rs 2000 notes and is printing only Rs 500 currency notes to full capacity. ATMs and banks across the country are expected to start dispensing the new Rs 500 notes shortly. This however may result is acute shortage of Rs 100 notes, the most soughht after currency in the country currently.

OneIndia News