Rs.10 & 2000 notes won’t be printed:CB

Friday, 04 May 2012 06:20

The Central Bank has decided to stop the printing of Rs.10 and Rs.2000 currency notes henceforth, officials said yesterday. However, the CB said notes already in circulation in could be used for transactions.

Central Bank Governor Ajith Nivaard Cabraal told the Daily Mirror that a coin had been minted in denomination of Rs. 10.

“Instead of the ten-rupee currency note, we will issue this coin hereafter. However, we will not print the note in denomination of Rs.2000. We have already issued a series of currency notes in denomination of Rs.20, Rs.50, Rs.100, Rs. 500, Rs. 1000 and Rs.5000. When we have such notes, it is not practical to have the Rs.2000 note,” he said.

In 2010 alone, the Central Bank had withdrawn 136.6 million soiled currency notes from circulation and in 2011, 137 million.

Such notes withdrawn from time to time from circulation are replaced with fresh notes. (Kelum Bandara)

Comments

-3+92 # Black Mamba 2012-05-04 06:44

One step forward, two steps backwards. Someone is making a mint!!!

-1+57 # Fayad 2012-05-04 11:11

give a better colour change for either for 20 or 500 notes it confuses

-7+27 # Fayad 2012-05-04 11:29

Have black & white notes like US Dollar $ for all notes.

-6+94 # Black Mamba 2012-05-04 06:48

Why not kick out the 5000 rupee note as well, let alone the corner boutique even the banks refuse to change them!

-3+11 # niyaz 2012-05-04 18:57

The 5000 notes are not printed for common people like you and me.They are used by those who count their wealth in the millions like smugglers and drug barons. If you want to move 10000000 you only need 2000 notes.

-3+54 # Kiwibird 2012-05-04 08:17

No consistent policy yet again. Didn't they realise that it was "not practical" to have Rs.2000 notes when they first began to print them? Next they may say the same about the Rs.5000 note

-1+59 # Mervyhn Szilvah 2012-05-04 08:17

Soon they will be mining coins of Rs 20, Rs 50 and Rs. 100.

-4+34 # Cynic 2012-05-04 08:19

Another blunder.

-5+96 # Wazeer 2012-05-04 08:41

Why not printing Rs.10,0000 notes, As the inflation is skyrocketing, you need this note too very soon.

-5+19 # lankaman 2012-05-04 10:40

sometimes when we give beggars with bad eyesight 10 rupee coins, they throw them back at our face "insulted" after thinking they are 2 rupee coins

-2+27 # Rambo 2012-05-04 12:28

I wish to be a beggar receiving 10 Rupee coins!

-2+13 # malkanthi 2012-05-04 10:42

CB is a typical YOYO will its statements ever become stable?

-1+26 # Fever 2012-05-04 11:54

soon following zimbabwe currencies ??

-1+7 # Conty 2012-05-04 15:04

Oh no!!!!!!

-1+23 # Chandana 2012-05-04 12:06

do not worry, 10 and 2000 out but 10,000 coming soon
crazy currency

-2+30 # owl 2012-05-04 12:38

2500 notes for self sufficiency will be printed.

-3+4 # SL 2012-05-04 15:13

CB is trying to save the printing cost guys! good move cabral.

-0+8 # priyasri 2012-05-04 15:16

This Governor cannot control inflation or the economy in the country. He can do this type of petty things.
Priya

-0+8 # Net Dog 2012-05-04 15:29

Anyway the 2000/= and 5000/= notes are too big because the people are struggling with their financial status. Shops are not doing enough business and no one can change these notes in a hurry. Printing these notes is only a money making racket from time to time and always going to the next currency printing plan. Its always a failure.

-12+2 # Dilan 2012-05-04 15:30

Good move Mr.Cabraal.

-0+12 # Gavin 2012-05-04 15:42

You guys are the people who printed the 2000 notes at the first place..... Seriously CB needs to be properly educated from LKG.

-0+6 # Dee 2012-05-04 16:17

well, this all makes sense. you dont need a 10 note because its only change, 2000 is dumb but 10,000 is good. especially the way things are on the way up.

-1+4 # hansan 2012-05-04 17:20

We know all these movies are not for the good of the People. It is only because they made money then, Now they want to make more by change the Notes. Dr. N M Perera was the only finance minister who fetched all Black money by Changing the notes. Now a days Guys only Try but that Brain does not Strick to them, due to may be there Education. IF they change the 1000 and 2000 Notes , Govt can find all hidden money coming out to the Bank.

-0+7 # panny 2012-05-04 18:01

Central Bank knows from today on wards price increase is on the card, getting rid of the 2000 note is correct and printing 10,000 and 50,000 is advisable.

-0+11 # Anura 2012-05-04 18:43

Soon we need 100',000/- Rupee notes to go to the grocery store. It's a Miracle that we live.

-0+2 # Rajitha 2012-05-05 00:06

not too sure about 2000 but 5000 note should definitely GO!

-0+4 # Hussain 2012-05-05 00:28

Does it matter whether its a coin or a paper note. The value remains the same, on the long run its cheaper to have coins as paper money have to be replaced periodically . Rs.2000/- is equal only about $15.75 US dollars.

-0+4 # KAPA 2012-05-05 01:48

Rs 10 notes good enough to wipe butt. Very soon even beggers won't accept 2000 notes. It is better to withdraw from usage n introduce 10000 notes.

-0+0 # Gayan 2012-05-05 21:54

Even though CB stopped printing the 2000/= notes , the culprits will not ceace printing their own Counterfeit notes!

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