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Finance Ministry has not held any discussion with the government to phase out the Rs 2000 notes

New Delhi: The Rs 2000 notes were launched in November 2016 after the Narendra Modi government had decided to stop the circulation of the Rs 1000 notes. Finance Minister Arun Jaitley puts a rest to the rumor of Rs 2000 notes being phased out.

Arun Jaitley’s comments came at the Cabinet briefing where he said that the Finance Ministry has not held any discussion with the government to phase out the Rs 2000 notes which were released last year in November. “No discussion within Government, of phasing out Rs. 2000 notes,” stated Arun Jaitley.

In this meeting, the Cabinet also approved the framework for consolidation of public sector banks. While addressing the media about it, Jaitley said the object is to create strong banks, the experience of consolidation has been positive. “There will be sub categorizations within the OBC list for the purposes of the central Govt employment,” Jaitley added.

The problem faced by people due to high value Rs 2000 notes will be resolved now as the new Rs 200 notes are likely to be in circulation shortly. This denomination is being undertaken to improve the currency situation in the country.

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