RBI to introduce new Rs 1000 note by December

New Delhi/Bhubaneswar: The Rs 1000 currency note, which was demonetised on November 8 last year, will be relaunched by the Reserve Bank of India (RBI) in a new avatar soon. The new note with enhanced security features could be out as early as December 2017, according to DNA sources.

The printing presses of RBI at Mysore and Salboni are geared up for designing and printing of the new Rs 1000 note. As the presses are currently engaged for printing of Rs 200 notes, people have to wait for the Rs 1000 note for few more days.

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Rs 1000 is set to narrow the wide gulf between the Rs 500 and Rs 2000 denominated notes. It will ease day-to-day operations and be beneficial to the common man.

The RBI presses have stopped printing of Rs 2000 note six months back but it will continue to exist. While the government had printed it for faster remonetisation, it decided to focus on lower value denominations.

Earlier on August 25, RBI had released Rs 200 and new Rs 50 notes that will only be available in the banks. ATMs will not dispense these new notes due to their size unless the machines and their cassettes are recalibrated.

Meanwhile, whether the new Rs 1000 notes will be available in ATMs or not and the security features it carries are not yet clear.