RBI to introduce Rs 200 note soon: confirms Finance Ministry

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After demonetising high valued notes of Rs 500 and Rs 1,000 and releasing new ones in November previous year, Reserve Bank of India has now announced that the new Rs 50 and Rs 200 notes would be released soon. Although the government has not specified the exact date of release of Rs 200 notes, some sources said that the new Rs 200 notes could become available at banks and ATMs as early as next week.

After the meeting that took place months back, i.e; in March 2017 sources from the RBI then stated: The process of printing the new Rs 200 notes is likely to begin after June, once the government officially approves this new denomination. Last week, the RBI announced to issue new Rs 50 currency notes with motif of Hampi with Chariot on reverse. As per the official reports, the government is all set to bring this new note in the country with better security features. This INR 200 note is under processing of the security and quality check.

The Finance Ministry specified the new currency note in a Gazette notification.

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In a surprise announcement, Prime Minister Narendra Modi on 8 November announced scrapping of old Rs 500 and Rs 1,000 currency notes, wiping out over 85% of the cash in circulation.

On the obverse side of Rs.2000, Rs.500, Rs.100, Rs.50 and Rs.20 notes, a vertical band on the right side of the Mahatma Gandhi's portrait contains a latent image showing the respective denominational value in numeral.

With the introduction of new Rs.200 denomination notes, the problems which people are facing because of high-value notes of Rs.2,000 would be eased.

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Recently, the government also made a decision to bring back the one rupee note that was discontinued in 1994.

The plan of originating ₹ 200 Notes is undertaken by the Reserve Bank of India, the first time in the history.

The move was aimed at checking black money, counterfeit notes and terror financing.

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