'No plans to introduce Rs 1,000 notes'

The decision on demonetisation took out Rs 15.44 lakh crore out of the market.

The Union government on Wednesday rubbished the reports that the RBI is set to launch new Rs 1,000 notes.

Secretary Economic Affairs Shaktikanta Das said that the current focus was on 'production and supply' of Rs 500 notes.

He also said that the cash crunch at the ATMs is being looked into and urged people to withdraw cash that they actually require.

Earlier, there were reports that printing of the new Rs 1,000 notes have already begun and the RBI expects to put the same into circulation in another month's time.

The decision on demonetisation took out Rs 15.44 lakh crore out of the market.

The RBI is yet to give statistics of how many demonetised notes were deposited into banks. RBI Governor Urjit Patel said that he would not give an estimate, but would release the correct data soon.

OneIndia News