What Was Nirmala Sitharaman’s Reply to BRS MP’s Query on Rs 2000 Currency Note

New Delhi: The Ministry of Finance has clarified that the banks are at liberty in filling the Automated Teller Machines or ATMs with 100, 500 and 2000 denominations and no instructions were issued in this regard. 

While responding to a query raised by Bharat Rashtra Samithi (BRS) MP Santosh Kumar, the Union Finance Minister Nirmala Sitharaman informed the Parliament on Monday that the banks make their own choice for loading of cash vending machines and the government has not issued any directions to the banks to load or not to load Rs 2,000 notes in their ATMs. 

The BRS MP had also asked “Whether about 9.21 lakh crores worth currency notes of Rs. 500 and Rs. 2000 denominations issued after demonetization, have gone out of circulation as per some data” and “whether the said currency notes have again allegedly turned into black money.”

In her written reply, Union finance minister Nirmala Sitharaman stated as per the Reserve Bank of India (RBI) the circulation of Rs 500 and Rs 2,000 currency notes increased from Rs 9.512 lakh crore as on the end of March 2017 to Rs 27.057 lakh crore by end of March 2022.

The minister also stated that the indent for supply of ₹2000 denomination banknotes has not been placed from 2019-20 onwards. 

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