New Rs. 200 currency note coming soon
Written by : SMTV24x7 | Tue, Apr 04, 2017, 06:51 PM
New Delhi, April 4: The Reserve Bank of India (RBI) has planning to introduce the new Rs 200 currency notes, which would be the third series of new notes after the new Rs 500 and Rs 2000 notes introduced after demonetization.
According to sources, The RBI said that the central bank board had cleared a proposal to introduce Rs 200 denomination banknotes, which was already proposed in the previous central board meeting.
The proposal was very useful to lowering the scarcity of the money, especially high denominated currency notes.
The RBI's board consists of 14 members, including governor Urjit Patel, Economic Affairs Secretary Shaktikanta Das, Financial Services Secretary Anjuly Chib Duggal, and four deputy governors of the central bank.
According to it, the decision to introduce new Rs 200 denomination notes was taken in March. Printing of the new banknotes is likely to begin after June once the approval from the government comes.
On November 8, 2016, the government decommissioned the use of Rs 500 and Rs 1000 notes. It later introduced a new Rs 500 note and a higher denomination of Rs 2000 notes.