RBI to reintroduce Rs 1000 notes
Hyderabad: Plans to reintroduce 1000 Rupee notes which were withdrawn were finalized by RBI and Government, but not clear when they will be introduced in the market.
New notes were supposed to be introduced in January which has been delayed. This is due to the need for supply of new 500 rupee notes to replace the old 500 notes which were demonetised on November 8th.
New 1000 notes will come up with enhanced security features and in smaller size than previous according to RBI sources. RBI already started production of these new 1000rs which will reduce gap between 500 and 2000 denominations .
Daily limit on withdrawal has been raised to 50,000 for saving account holders which came as a relief for citizens after demonetisation.