When one withdraws about Rs 10,000 from a bank ATM chances are that the ATM will dispense the amount in Rs 500 notes and not in Rs 2,000 notes. The question that arises is where are the Rs 2,000 notes? The Rs 2,000 note is the highest denomination currency in India. The new Rs 2,000 notes were introduced after the government announced demonetization of old Rs 500 and Rs 1,000 currency notes on November 8, 2016. According to an RTI reply, the Reserve Bank of India (RBI) has not printed a single new Rs 2,000 denomination currency note in over two years. The reply also indicated that the number of Rs 2,000 notes in circulation has gone down drastically. The RTI response probably indicates a trend suggesting that a conscious decision has been made to bring down the share of Rs 2,000 notes in circulation. It is learnt that the number of fake currency notes of Rs 2,000 denomination seized in the country as per National Crime Records Bureau (NCRB) data has reportedly increased substantially between 2016 and 2020. However the parliament was informed that no instructions have been given to banks for not filling Rs 2,000 notes in ATMs. Banks make their own assessment of amount and denominational requirement for ATMs on the basis of past usage, consumer requirement, seasonal trend, etc. Questions over the future of Rs 2,000 notes were raised once again during the ongoing session of the Parliament. In a written reply to a query whether the Reserve Bank of India (RBI) is introducing new design of banknotes in the denomination of Rs 2000 as part of Mahatma Gandhi (new) series, Union Minister of State in the Ministry of Finance Pankaj Chaudhary said there is no such plan as the RBI has already introduced new design of Rs 2,000 notes in 2016. It is pertinent to note that printing of banknotes of a particular denomination is decided by the Government of India in consultation with the Reserve Bank of India in order to maintain desired denomination mix for facilitating transactional demand of the public. However, there is reportedly no plan to discontinue the use of Rs 2,000 notes as the currency in circulation of various denominations is assessed to be adequate. It is understood that demand for currency depends upon several economic factors including economic growth and level of interest rate. Increase of digital transactions also affects requirement for currency,
