Currency notes of Rs 2,000 were not printed at all in financial year 2019-20, according to the Reserve Bank of India (RBI).
As per RBI’s Annual Report for 2019-20 the supply of banknotes during the period was lower by 23.3% than in the previous year, mainly due to the disruptions caused by the outbreak of Covid-19 and the ensuing lockdown.
The number of Rs2,000 notes in circulation came down from 329.10 crore pieces in March 2019 to 273.98 crore notes in March 2020.
The quantity of Rs2,000 denomination notes constituted 2.4% of the total volume of notes at end of March 2020, down from 3% at end-March 2019.
In terms of value, the share of Rs2,000 notes has come down to 22.6% at end of the financial year 2019-20, down from 31.2 per at the end of the previous financial year.