Mumbai: According to RBI’s annual report, the number of Rs 2000 denomination banknotes has seen a steady decline over the years and amounts to 214 crore or 1.6 per cent of the total currency notes in circulation at the end of March this year.
Till March this year, the total number of currency notes of all denominations stood at 13,053 crores, compared to 12,437 crores in the same period a year ago.
At the end of March 2020, the number of Rs 2000 denomination notes in circulation stood at 274 crore, which was 2.4 per cent of the total number of currency notes in circulation. The total number of banknotes in circulation fell to 245 crore or 2 per cent by March 2021 and to 214 crore or 1.6 per cent at the end of the previous fiscal.
In terms of value also, Rs 2000 denomination notes were in circulation from 22.6 per cent of the total value of currency notes to 17.3 per cent at the end of March 2021 and 13.8 per cent at the end of March 2022.
According to the report, the number of Rs 500 denomination notes in circulation rose to 4,554.68 crore at the end of March this year, as against 3,867.90 crore in the year-ago period.
“In terms of volume, the Rs 500 denomination constituted the highest share at 34.9 per cent, followed by Rs 10 denomination banknotes, which accounted for 21.3 per cent of the total banknotes in circulation as on March 31, 2022,” Annual Report for 2021 – 22 released on Friday said.
The share of Rs 500 notes stood at 31.1 per cent at the end of March 2021 and 25.4 per cent as of March 2020. In terms of value, these notes increased from 60.8 per cent to 73.3 per cent from March 2020 to March 2022.
The total value of currency notes of all denominations increased to Rs 31.05 lakh crore at the end of March this year from Rs 28.27 lakh crore at the end of March 2021.
“In terms of value, the share of Rs 500 and Rs 2000 notes of the total value of banknotes in circulation as on March 31, 2022 was 87.1 per cent as against 85.7 per cent at the end of March, 2021.” The report said.
The value and quantity of banknotes in circulation increased by 9.9 per cent and 5 per cent respectively during 2021-22, while it increased by 16.8 per cent and 7.2 per cent respectively during 2020-21,” the report said.
Currency in Circulation (CiC) includes banknotes and coins. Currently, the Reserve Bank of India (RBI) issues banknotes in denominations of Rs 2, Rs 5, Rs 10, Rs 20, Rs 50, Rs 100, Rs 200, Rs 500 and Rs 2000. Coins in circulation include 50 paise and 1 rupee. , Rs 2, Rs 5, Rs 10 and Rs 20 denominations.
This report is automatically generated from PTI news service. ThePrint assumes no responsibility for its contents.
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