Now, focus is on printing more Rs 500 notes: Shaktikanta Das

December 15, 2016 17:30

Economic Affairs Secretary Shaktikanta Das today said that the situation arising out of the decision to withdraw Rs500/1,000 notes will improve after December 30.

He also said that now the government's focus is on to print more new Rs 500 notes to ease out cash crunch.

Here are some highlights of his press conference:

- Initial focus was to supply Rs 2000 notes to replace value that was taken out of the market. Now focus is on printing more of Rs 500 notes

- There are 2 lakh 20 thousand ATMs and more than 2 lakh ATMs have already been re-calibrated

- Possibility of counterfeiting new 500 and 2000 notes is very less

- First time notes were indigenously designed in house with security features, makes notes more secure

- Airlifting of currency to continue wherever necessary, emphasis on rural areas to ensure enough cash

- Situation will ease with more supply of Rs 500 notes; No significant change in winter crop sowing

- Actions taken by enforcement agencies on illegally accumulated money based on inputs, surgical action you may call it

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