Nashik: A substantial increase in the number of Rs 500 new currency notes has been observed of late. As per a report published in the Times of India, a threefold increase has been witnessed in the daily printing of new Rs 500 notes at the Currency Note Press (CNP) in Nashik.
The sudden increase in daily printing is to counter the shortage of newly introduced currency.
The Nashik press only prints the new Rs 500 notes.
The report informs that on Friday the RBI received a consignment of 43 billion pieces out of which 11 million pieces were in Rs 500 denomination, 12 million in Rs 100 and 10 million each in Rs 50 and Rs 20 denominations.