RBI may be holding back Rs 2,000 notes: SBI report

Kochi: The Reserve Bank of India (RBI) may either be holding back Rs 2,000 notes or could have stopped printing high denomination currency, says a SBI Research report. The SBI Ecoflash report observes that the value of high denomination notes was equivalent to Rs 13,324 billion as on December 8. It further said that the RBI has printed 16,957 million pieces of Rs 500 notes and 3,654 million pieces of Rs 2,000 notes as on December 8. The total value of such notes translates into Rs 15,787 billion."This means that the residual amount of high currency notes of Rs 2,463 billion may have been printed by the RBI but not supplied in the market," said the report authored Soumya Kanti Ghosh, group chief economic adviser, SBI.

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