No Plan To Introduce Rs 1000 Notes: FM


New Delhi: “The government’s decision to limit the exchange of banned Rs 500 and Rs 1,000 notes to Rs 2,000+ , from the existing cap of Rs 4,500 , would stop misuse of funds,” finance minister Arun Jaitley said on Thursday.

Jaitley also ruled the possibility of reintroduction of Rs 1,000 note in immediate future. “As of now, there is no plan to reintroduce Rs 1,000 note,” he said.

The finance minister also said that 22,500 ATMs will be re-calibrated today.

Earlier in the day, the government eased restrictions on cash withdrawal by farmers and families with upcoming weddings+ .

Economic affairs secretary Shaktikanta Das said now families preparing for a wedding can withdraw up to Rs 2.50 lakh from bank account giving PAN details and self declaration.

However, with effect from tomorrow individuals can exchange invalid 500 and 1,000 rupee notes totalling Rs 2,000, as against Rs 4,500 earlier, only once till December 30.