New Rs 200 note to come into circulation from September

23 August, 2017, 20:12 | Author: Leticia Walters
  • RBI to issue new Rs 200 notes from tomorrow to ‘facilitate ease of transactions

While reports suggest that the new Rs. 200 currency notes will be rolled out in September, no official confirmation has been published. Last week, the RBI announced to issue new Rs 50 currency notes with motif of Hampi with Chariot on reverse.

Introducing a new currency denomination and design is an exercise that any central bank does, keeping in consideration various factors like inflation, GDP growth, replacement of soiled banknotes, reserve stock requirements and the need for combating counterfeiting and above all the ease of transactions for the common man. The Rs 200 note is also believed to get the same feature. There are no notes between 100 to 500, the 200 note will definitely be catching good hike. Earlier, Minister of State for Finance Santosh Kumar Gangwar has told that the Rs 200 note, printing of which had begun would be in circulation soon. But, due to the huge shortage of cash experienced during demonetization, the government had to print this high value note to improve cash circulation in the market.

The introduction of new denomination and the cutting down on the production of the high-value currency note are as good indications of the much-predicted end of the Rs 2,000 note's life span, as can be.

It is also informed by the officials that the government is also bringing the one rupee note back which was abandoned after 1994, according to NDTV.

The Indian government has been highly successful in bringing the illegal trade of currency notes down.

The plan of originating ₹ 200 Notes is undertaken by the Reserve Bank of India, the first time in the history. Many attribute this scarcity to cash-hoarding, given that it is easier to hoard black money in Rs 2,000 notes as compared to other denominations.

The government is opening the flow of ₹ 200 Notes to achieve the deterioration of Rs 500 note occurred after the Central Government's decision of demonetisation, undergone from 8th November 2016.

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