Govt to re-introduce Rs 1000 banknotes in few months

Economic Affairs Secretary Shaktikanta Das has said that in few months, government will re-introduce Rs 1000 banknotes in the market with new features and also issue new series of lower denomination notes with enhanced security features. Recently, the government had scraped the Rs 500 and Rs 1000 currency notes from the circulation to curb corruption. These are being replaced with new currency notes of Rs 500 and Rs 2000.

Das said that the currency notes of lower denomination of Rs 100 and Rs 50 will continue to be the legal tender. Further, the banks have started distributing new notes of Rs 500 and Rs 2000. The new Rs 500 banknotes have extra security features and it will be stone grey in color with a predominant new theme of the Indian heritage site Red Fort.

On other hand, the Rs 2000 notes, which are being introduced for the first time, will be of magenta colour with Mangalayan imprinted on the reverse side, depicting the country's first venture in interplanetary space. The higher value currency notes will have other designs, geometric patterns aligning with the overall colour scheme both on the obverse and reverse.