RBI Gets Govt Nod for Rs 200 Notes

RBI may introduce new Rs 200 notes from September Report

Mumbai: In a bid to bridge the gap between low and high value currency denominations, the central government on Wednesday announced the roll out of Rs 200 notes.

The Reserve Bank of India is likely to issue Rs 200 denomination currency notes by the beginning of September. These notes can be introduced within next two weeks.

The move to introduce the Rs 200 notes is expected to lessen the problem of unaccounted, untaxed-for cash in the Indian economy, reports the newspaper.

"There is no other denomination available between Rs 100 and Rs 500", an official said.

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According to an old report in The Statesman, "The central government is preparing to gradually phase out the new Rs 2,000 note".

Rs 200 notes could make their debut soon with the government notifying the new currency note. The new note will measure 66mmx135mm, it said. Plus, with large denominations, there is always more risk of counterfeiting.

Hoax image of the Rs 200 note, from the internet. At the time of demonetization, there were reports of the illegal copy being in circulation and people were getting fooled because of the limited supply of newly launched note. RBI seems to have learnt from the mistakes and is reportedly working on printing at least 50 crore notes before putting them 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.

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