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No fresh supply of 2,000 notes in FY21, 500 denomination highest in volume

In value terms, the share of Rs 500 and Rs 2,000 banknotes together accounted for 85.7 per cent of the total value of banknotes in circulation as on March 31, 2021, as against 83.4 per cent as on March 31, 2020.

By: ENS Economic Bureau | Mumbai |
May 28, 2021 5:43:38 am
No fresh supply of 2,000 notes in FY21, 500 denomination highest in volumeThe Reserve Bank last supplied 467 lakh Rs 2,000 notes in 2018-19.

The RBI on Thursday said there was no fresh supply of Rs 2,000 notes in 2020-21 as in the previous year. However, it increased the supply of Rs 20 notes from 13,390 lakh pieces in 2019-20 to 38,250 lakh pieces in 2020-21.

The Reserve Bank last supplied 467 lakh Rs 2,000 notes in 2018-19.

Overall supply of notes remained marginally lower by 0.3 per cent at 2,23,301 lakh pieces in FY21 against 2,23,875
lakh pieces the previous year, the RBI Annual Report said.

The indent of banknotes was lower by 9.7 per cent in FY21 than that of a year ago. Last fiscal, the indent and supply of coins were lower by 11.8 per cent and 4.7 per cent, respectively, from their levels in the previous year.

The value and volume of banknotes in circulation increased by 16.8 per cent and 7.2 per cent, respectively, during 2020-21 as against a rise of 14.7 per cent and 6.6 per cent, respectively, seen during 2019-20.

In value terms, the share of Rs 500 and Rs 2,000 banknotes together accounted for 85.7 per cent of the total value of banknotes in circulation as on March 31, 2021, as against 83.4 per cent as on March 31, 2020.

In volume terms, Rs 500 denomination constituted the highest share at 31.1 per cent, followed by Rs 10 denomination banknotes which constituted 23.6 per cent of the total banknotes in circulation as on March 31, 2021.

The share of Rs 500 denomination banknotes in the total volume of banknotes showed a rising trend from 25.4 per cent as on March 31, 2020 to 31.1 per cent as on March 31, 2021.

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