India stops printing Rs 2,000 note, two years after its shock launch
New Delhi, January 3; GANASHAKTI: India has stopped printing Rs 2,000 notes in a bid to slowly reduce their circulation, a highly placed government source told ThePrint.
The cut in circulation does not mean the Rs 2,000 notes will become invalid. In all likelihood, the denomination will be gradually phased out.
The decision comes on the back of suspicion in the Modi government that the high-denomination banknote was being used for hoarding, tax evasion and money laundering.