PRINTING OF ₹500 NOTES RAMPED UP, SAYS GARG

MANILA: Currencies in 500, 200 and 100 denominations are comfortable mode for transactions and the printing of ₹500 notes have been ramped-up to about ₹3,000 crore everyday to take care of extra demand, Economic Affairs Secretary Subhash Chandra Garg said. He said the cash situation in the country is “quite comfortable” and extra demand is being fully met. Speaking to PTI, Garg also said the fundamentals of economy does not call for an interest rate hike at the moment as there has not been any “disproportionate rise in inflation” or “extra ordinary growth in output”.