Reserve Bank of India (RBI) Governor Shaktikanta Das said there was no plan to print more currency notes.
The Governor’s statement comes amid suggestions from certain quarters that the RBI print more currency notes to support the economy ravaged by the spread of COVID-19, and protect jobs.
“Central banks, with regard to printing of notes, have their own models and have their own assessment,” said Mr. Das. “I have seen many remarks [on printing of notes] that have come,” he said while answering a query from The Hindu.
“The central banks, with regard to printing of notes, take decisions based on so many complex factors relating to financial stability, inflation and stability of exchange rates,” he said.
“At the moment, the borrowing requirements of both States and the Centre had been handled very successfully last year.”