Demonetisation: What you didn't know about new Rs 500 notes 'shortage'

Zee Media Bureau

New Delhi: The government has squarely denied reports that RBI has stopped printing new Rs 500 notes because of a series of glaring errors on the new notes, and called them baseless and mischievous.

There were reports that due to errors in the new notes, printing of new Rs 500 note is near-halt at the Nashik and Dewas printing presses

As per a CNBC-TV18 report, the shortage seen in the circulation of new Rs 500 notes in ATMs and banks is due to steep demand. The report, quoting government sources, added that the RBI has stepped up printing of new Rs 500 notes, and the shortage is expected to be over by December end. 

The report added that printing of new notes is currently continuing at the government presses in Dewas and Nashik. The two presses have already stepped up printing of these new notes to 15 million pieces per day, from 9 million per day, which will go further up by 25 percent in the days to come.

The channel added that shortly, RBI will also begin printing the new Rs 500 notes from its other presses at Salboni and Mysuru.