INSUBCONTINENT EXCLUSIVE:
quantitative terms, there could be need for more currency in economy, a Reserve Bank of India official said on Thursday
Following demonetisation in November 2016, when government junked high value currency notes of denominations 500 and 1,000, there was a
shrinkage in currency in system
Now, with growth in Gross Domestic Product (GDP), "there may be a need for more currency in system," RBI official said during an interactive
However, RBI introduced bank notes of denomination 2,000 during period
The central bank official said there has been a decline in counterfeit notes and whatever is in circulation at present is "very crude
