RBI had plans to issue ₹5,000, ₹10,000 notes: Jaitley
The RBI’s original proposal was to issue high-value new currency notes in the denominations of ₹5,000 and ₹10,000, Finance Minister Arun Jaitley said on Saturday. This would have been to curb inflation and for convenience in handling. However, PM Narendra Modi's government finally decided to go with ₹2,000 denominations to ensure that replacement currency was available immediately, he added. 