(LiveMint)
The Reserve Bank of India (RBI) has reduced its order for printing currency notes in the current fiscal year to the lowest in five years for lack of space in the currency chests of the central bank and commercial banks, two people familiar with the matter said.
The indent (government jargon for order) for fiscal 2018 now stands at 21 billion pieces of currency, as against 28 billion pieces in the previous year, the two people said on condition of anonymity. The average annual indent for banknotes over the past five years was 25 billion pieces. Experts said last year’s indent was an aberration as RBI had been preparing to introduce a new series of notes. Indeed, actual supply was higher at 29 billion currency notes.
