Indian 2000-rupee note

The Indian 2000-rupee banknote (₹2000) is a denomination of the Indian rupee. It was released by the Reserve Bank of India (RBI) on 8 November 2016 after the demonetisation of ₹500 and ₹1000 banknotes and has been in circulation since 10 November 2016.[1] It is a part of the Mahatma Gandhi New Series of banknotes with a completely new design.

Two thousand rupees
(India)
Value₹2000 (approx.$30)
Height66 mm
Years of printing2016 – 2019
Obverse
DesignMahatma Gandhi
DesignerReserve Bank of India
Design date2016
Reverse
DesignMangalyaan
DesignerReserve Bank of India
Design date2016

This is the highest currency note printed by RBI that is in active circulation, ever since the 1,000 rupee note was demonetised in November 2016.[2][3][4] Before the official announcement by RBI, the media reported that ₹2000 notes had been printed from the currency printing press in Mysuru by the end of October 2016.[5] Post 2016 Indian banknote demonetisation, seven new currency notes have been announced by the Reserve Bank of India-- ₹2,000, ₹500, ₹200, ₹100, ₹50, ₹20, and ₹10.[6][7][8]

According to the RBI data, there were 3,285 million pieces of ₹2000 notes in circulation at end-March 2017. A year after (on March 31, 2018), there was only a marginal increase in the number at 3,363 million pieces. Of the total currency in circulation amounting to ₹18,037 billion at end-March 2018, ₹2000 notes accounted for 37.3 percent, down from 50.2 percent at end-March 2017.[9] The share has came down to 22.6 per cent at end-March 2020.[10]

The ₹2,000 note was created as a quick fix, to have enough circulation of currency.[11] With lower denominations available in circulation, the Indian government and the RBI has rolled back ₹2,000 notes from circulation.[11]

Suspecting that the ₹2000 note is being used for hoarding and tax evasion, RBI has stopped the printing of banknotes of ₹2000 denomination[12] and no new notes of this denomination were printed during the 2019-20 fiscal year.[13]

Design

The new ₹2000 banknote is a 66 mm × 166 mm Magenta coloured note, with the obverse side featuring a portrait of Mahatma Gandhi, the Ashoka Pillar Emblem, and the signature of Reserve Bank of India Governor. It has Braille print on it, to assist the visually challenged in identifying the currency. The reverse side features a motif of the Mangalyaan, representing India's first interplanetary space mission, and the logo and tag line for Swachh Bharat Abhiyan.[1]

Security features
Microscopic view of the ₹2000 Indian currency note showing micro printing of letters 'RBI'

The ₹2000 banknote has multiple security features, listed below:[1]

  • See-through registration device with denominational numeral ₹2000
  • Latent image with denominational numeral ₹2000
  • Denominational numeral २००० rendered in Devnagari script
  • Micro letters 'RBI' and '2000' on the left side of the banknote
  • Windowed security thread with inscriptions 'भारत', RBI, and ₹2000 on banknotes, with a colour shift. The thread colour changes from green to blue when the note is tilted
  • Guarantee Clause, the Governor’s signature with the Promise Clause, and the RBI's emblem on the right side
  • Denominational numeral with Rupee Symbol, ₹2000 in colour changing ink (green to blue) on bottom right
  • Ashoka Pillar emblem on the right Mahatma Gandhi portrait and electrotype (2000) watermarks
  • Number panel with numerals growing from small to big on the top left side and bottom right side.
  • For the visually impaired Intaglio (raised printing) of Mahatma Gandhi portrait, Ashoka Pillar emblem, bleed lines and identity mark
  • Horizontal rectangle with ₹2000 in raised print on the right
  • Seven angular bleed lines on left and right side in raised print (obverse)
  • Year of printing of the note on the left (reverse)

Languages

Like other Indian rupee banknotes, the ₹2000 banknote has its amount written in 17+1 languages (Braille language added on new currency notes for visually impaired). On the obverse, the denomination is written in English and Hindi. On the reverse is a language panel which displays the denomination of the note in 15 of the 22 official languages of India. The languages are displayed in alphabetical order. Languages included on the panel are Assamese, Bengali, Gujarati, Kannada, Kashmiri, Konkani, Malayalam, Marathi, Nepali, Odia, Punjabi, Sanskrit, Tamil, Telugu, Urdu, and Braille.

Denominations in central level official languages (At below either ends)
Language ₹2000
EnglishTwo Thousand Rupees
Hindiदो हज़ार रुपये
Denominations in 15 state level/other official languages (As seen on the language panel)
Assameseদুহেজাৰ টকা
Bengaliদুই হাজার টাকা
Gujaratiબે હજાર રૂપિયા
Kannadaಎರಡು ಸಾವಿರ ರೂಪಾಯಿಗಳು
Kashmiriزٕ ساس رۄپیہِ
Konkaniदोन हजार रुपया
Malayalamരണ്ടായിരം രൂപ
Marathiदोन हजार रुपये
Nepaliदुई हजार रुपियाँ
Odiaଦୁଇ ହଜାର ଟଙ୍କା
Punjabiਦੋ ਹਜ਼ਾਰ ਰੁਪਏ
Sanskritद्विसहस्रं रूप्यकाणि
Tamilஇரண்டாயிரம் ரூபாய்
Teluguరెండు వేల రూపాయలు
Urduدو ہزار روپیے

Criticisms

The introduction of such high denomination currency has been criticized by some, with former Indian Minister of Finance P. Chidambaram dubbing the move "puzzling".[14] The design of the new note was criticized by former Minister of Commerce and Industry Anand Sharma.[15]

See also

References
  1. Killawala, Alpana (8 November 2016). "Issue of ₹ 2000 Banknotes" (PDF) (Press release). RESERVE BANK OF INDIA. Retrieved 14 November 2016.
  2. Krishnamachari, S V (22 October 2016). "Reserve Bank of India to issue Rs 2,000 notes soon: Report". IB Times.
  3. "Trending: Rs 2000 Note First Look!". gulte.com. 6 November 2016.
  4. "Is this new Rs2,000 banknote from RBI? Twitterati seems to think so". New Delhi: Indian Express. 6 November 2016.
  5. Sridhar, G Naga; Vageesh, NS (21 October 2016). "Coming soon to your wallet: ₹2,000 notes". The Hindu Business Line.
  6. "Why the RBI is giving you the new Rs 200 note".
  7. "Re-10 note back in business".
  8. "Indian 100-rupee note - Wikipedia". en.m.wikipedia.org. Retrieved 4 December 2019.
  9. "RBI scales down printing of Rs 2000 note to minimum: Govt source".
  10. "Don't jump, Rs 2000 currency notes slowly being phased out".
  11. Gill, Prabhjote (10 February 2020). "Exclusive: Bankers reveal why RBI is quietly rolling back the ₹2000 notes". Business Insider. Retrieved 5 July 2020.
  12. "India stops printing Rs 2,000 note, two years after its shock launch". 3 January 2019.
  13. Vikram, Kumar (14 October 2019). "Curbing black money: Printing of Rs 2,000 notes stopped, says RTI reply". The Indian Express.
  14. "War on black money: Introducing Rs 2000 note is a puzzle, says Chidambaram | Latest News & Updates at Daily News & Analysis". dna. 9 November 2016.
  15. "Rs 2,000 note Color reminds me of 'churan ki pudiya': Anand Sharma". The Economic Times.
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