The Centre is planning to gradually phase out printing of the Rs 2,000 notes which replaced the 1,000-rupee notes after demonetisation last year, sources told CNN-News18.

Informed sources said that though the pink-coloured notes will not be demonetised, their usage will gradually be brought down with printing of more Rs 500 and Rs 100 notes.

The government also recently turned down a proposal by the Reserve Bank of India (RBI) to print 100 crore Rs 2,000 notes, sources said.

According to a report in the Economic Times, there has been a sharp drop in the number of Rs 2,000 notes in circulation.

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