According to RBI, the supply of all the banknotes during 2019-20 was lower then the previous year which is 23.3% it is all because of COVID-19 during the lockdown.
All the notes of Rs.2,000 were not printed in the year 2019-20 and the circulation among people was declined for years as informed by RBI. During the end of March 2018 the circulation of Rs. 2,000 notes have shown a big downfall which is around 32,910 lakh pieces in March 2018 becomes 32,910 lakh pieces of notes in March 2019 and there is more downfall in the year 2020 according to data in March 2020 becomes 27,398 lakh pieces of notes.
RBI also added that the total number of pieces of notes of Rs.2,000 consisted of 2.4 percent of the total volume of all the notes in the end of March 2020, and this data has been fallen down to 3 percent at the end of March 2019 and in case pf March 2018 it was 3.3 percent. In the case of shared values, the terms have come down to 22.6 percent at the end of March 2020 from 31.2 percent at the end of March 2019 and from 37.3 percent at the end of March 2018.
While on the other hand there is growth in the circulation of the notes of Rs.500 and Rs.200. Not only in the case of volume but by values also from the past three years.
The report also added that during the year 2019-20 there are a lot of fake notes detected in the banking system management of the country which is around 4.6 percent detected in the Reserve Bank of the country and 95.4 percent was detected in some other banks of the country.
It is noted that there were a total of 2,96,695 pieces of fake notes that were printed in the country.