The Rs 2000 notes were introduced in November 2016, soon after the Government decided to withdraw Rs 500 and Rs 1,000 notes in an attempt to stop black money and fake currencies.
In January an unaccounted amount of cash pf Rs 6 crore in Rs 2,000 notes was seized from the Andhra Pradesh-Tamil Nadu border. More the Rs 50 crore worth fake currency have been seized in three years. The government had informed in Lok Sabha in June. The Central bank said 17,929 fake Rs 2,000 notes were detected in 2017-18.
The move to print fewer Rs 2,000 notes is seen as an attempt to prevent black money.