Focus now on printing more Rs. 500 notes- Secretary DEA

Secretary Economic Affairs, Government of India briefing the media about Demonetisation related issues and the US Fed rate hike, in North Block on 16.12.2016 has said the following-

• Printing of new Rs 500 notes has been stepped up: Shaktikanta Das
• US Fed Rate Hike factored in, markets will remain stable.
• it’s the first time new currency notes have indigenous design, including security features.
• More Rs. 2000 notes printed initially to replace more amount of old currency in shorter time
• Focus now on printing more Rs. 500 notes. Earlier too, Rs. 500 notes were being printed parallelly
• distribution of notes streamlined to avoid criss-cross movements, airlifting is being done where necessary.
• emphasis on making cash available to co-op banks for crop loan disbursement, Rabi sowing almost at par with last year
• emphasis on providing cash to rural areas from where reports of inadequate availability of cash are coming in.
• Action against illegal accumulation of new notes is based on specific inputs by revenue authorities and by FIU.
• The various wings of Govt, RBI Banks are working to ensure that the situation eases out.
• notes seized from illegal accumulations are being put back into the circulation as soon as possible.