Reason for the absence of Rs 2000 currency notes

The reason is that, no Rs 2,000 notes have been issued in the recent three years. In such cases, the currency (a 2000 rupee note) is not divided evenly. This was revealed in a statement obtained in response to an RTI request submitted by the news agency IANS. The RBI attempted to remonetize the economy as quickly as feasible. At the time of demonetization, the banned Rs. 500 and Rs. 1,000 currency notes accounted for more than 80% of the entire value of notes in circulation. Even with the RBI’s currency presses running nonstop, it was difficult to replace such a big sum so quickly.
On November 8, 2016, the government announced the ban on the old Rs. 500 and Rs. 1,000 notes, followed by the unveiling of the new notes, which included the new Rs. 2000 note.How many Rs. 2000 notes have been printed in the last three years:No new Rs. 2,000 notes were printed in 2019-20, 2020-21, or 2021-2022, according to RTI. During the fiscal year 2016-17, RBI Note Mudran (P) Limited produced 3,5429.91 crore notes with a face value of Rs 2,000. Following that, just 466.90 crore (2000 rupee) notes were printed in 2018-19, a considerable fall from the incredibly low 1115.07 crore notes produced in 2017-18.The rapid increase in the number of counterfeit currency:The RBI released all Mahatma Gandhi Series-2005 denominations of new banknotes with a new numbering system in 2015. The Visible Security feature enables the general public to tell the difference between counterfeit and genuine cash. The majority of the counterfeit cash (2,000-rupee notes) discovered in the financial system was of the low quality, and no significant security.According to a recent government response in Parliament, NCRB figures show that the number of counterfeit Rs 2,000 notes intercepted in the country surged drastically between 2016 and 2020, from 2,272 to 2,44,834 pieces.In sum, 2,272 counterfeit Rs 2,000 notes were identified in the country in 2016, 74,898 in 2017, 90,566 in 2019, and 2,44,834 in 2020, indicating a significant increase. According to the RTI response, the central bank ceased issuing Rs. 2,000 notes in 2020.The Reserve Bank of India imposes a variety of requirements on banks in order to prevent counterfeit money. According to the RTI, the central bank regularly provides training seminars on recognising counterfeit notes to employees/officers of banks and other institutions that handle large sums of cash.Comment down your thoughts.