Sizes of currency notes in India were last reduced half-century back in the year 1967 when maximum denomination was rupees 100 and notes of 1, 2 and 5 rupees denominations commonly circulated.
With higher denomination notes of rupees 500 and 100 having been issued, and notes of rupees 2 and 5 since discontinued for long, sizes of notes can and should be further reduced now to save largely on print-cost of currency. It is significant that one-rupee note issued on 06.03.2015 despite stiff resistance of Reserve Bank of India is practically 'collector's item' never been in actual circulation. Further printing of one-rupee note should be immediately discontinued to pave way for reducing sizes of currency-notes.
Success of 'Paradhan Mantri Jan Dhan Yojna' in opening of bank-accounts by even poorest section coupled with network of banks now extended even to remote areas and stalling of ATMs in large numbers, India should follow advanced countries like UK and USA to stop printing currency notes of higher denomination of rupees and 500 1000 to practically check menace of black money and fake currency ruining Indian economy. Rather a deadline can be given when such higher currency notes may be withdrawn from circulation in the manner pre-2005 notes were withdrawn.