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Detailed explanation-1: -by Act 58 of 1968, s. 25, for section 24 (w.e.f. 1-2-1969). [11] Printing of One Rupee note was discontinued on and from 1994 because of high printing cost.
Detailed explanation-2: -The highest denomination note ever printed by the Reserve Bank of India was the ₹10000 note in 1938 which was demonetized in January 1946. The ₹10000 was again introduced in 1954. These notes were demonetized in 1978.
Detailed explanation-3: -The RBI issues currency note under the fixed minimum reserve system. RBI is required to maintain reserves of Rs 200 crores which includes Rs 115 crores as gold reserve and the remaining in foreign currency. This is called minimum reserve system.
Detailed explanation-4: -RBI Limitations: The Indian Government 4 The Reserve Bank has the right to print currency up to 10, 000 rupee notes. However, if the Reserve Bank wants to print anything higher, the government must amend the Reserve Bank of India Act.