New Rs1000 Note To Be Released Soon

New Delhi: The Reserve Bank of India and the government have finalised plans to launch a new series of Rs1,000 notes to replace the ones that were withdrawn, according to reports online quoting unidentified official sources on Tuesday.

It is not clear when the new notes will be introduced, but the RBI has already started production.

It was supposed to be introduced in January, but the schedule has been delayed due to the need to supply Rs500 notes to replenish the stock of old notes that were demonetized in November.

Prime Minister Narendra Modi on November 8 announced that 1000 and 500 rupee bank notes worth Rs. 15.44 lakh crore were being withdrawn in an effort to fight corruption and flush out black money.