New notes will be printed based on requirement: Jaitley | business-news | Hindustan Times
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New notes will be printed based on requirement: Jaitley

Instructions for printing of new currency is being sent to the mints by the Central bank which is closely monitoring the requirement, Parliament was informed on Friday.

business Updated: Dec 02, 2016 20:56 IST
IAs on November 8, the day demonetisation was announced, there were 17,165 million notes of Rs 500 denomination and 6,858 million notes of Rs 1,000 denomination in circulation.
IAs on November 8, the day demonetisation was announced, there were 17,165 million notes of Rs 500 denomination and 6,858 million notes of Rs 1,000 denomination in circulation. (HT/ PHOTO)

Instructions for printing of new currency is being sent to the mints by the Central bank which is closely monitoring the requirement, Parliament was informed on Friday.

“The Reserve Bank of India monitors the requirement of notes on a regular basis and places the indent on the printing presses accordingly,” Finance minister Arun Jaitley informed the Lok Sabha in a written reply.

“Arrangements have been made keeping under consideration stock position, augmenting production of new series of banknotes, expediting supplies to all the currency chests, including air remittances from the press,” Minister of state for finance Arjun Ram Meghwal said in another written reply in the Lok Sabha on Friday.

As on November 8, the day demonetisation was announced, there were 17,165 million notes of Rs 500 denomination and 6,858 million notes of Rs 1,000 denomination in circulation, Meghwal added.