RBI To Ramp Up The Supply Of New Rs 200 Currency Note

August 26, 2017 13:10
RBI To Ramp Up The Supply Of New Rs 200 Currency Note

(Image source from: ANI News and deccanchronicle.com)

RBI To Ramp Up The Supply Of New Rs 200 Currency Note:- The bright yellow 200 notes were launched by the Reserve Bank of India on Friday. It said that the supply of the new currency note will shortly be revamped.

The RBI offices on Friday witnessed long queues of people to get the new Rs 200 currency note. This is the first time that the Central bank has introduced the currency note. With an aim to make it easier for the common man to transact in lower denomination currencies, the RBI has launched the Rs 200 note. These notes are available only through “select RBI offices and banks”. This is because the supply gradually increases, when a new denomination of notes is introduced, said the RBI in a release.

The currency printing presses are revamping the production of these notes and as more notes are printed over the time, it will be distributed across the country through the banking channels and will be available for public in adequate quantity”, said the release.

The central bank had introduced Rs 2,000 notes and new Rs 500 notes, following the demonetisation of Rs 1,000 and Rs 500 notes last November. As per the new policy on theme-based currency notes, the Rs 200 bill to depict India’s cultural heritage bears motif of Sanchi Stupa. The base color of the note is bright yellow, the RBI said.

The Rs 200 note will provide the “missing link” and ensure optimal mix of currency denominations said the RBI. India has currency denominations of Rs 1, 2, 5, 10, 20, 50, 100, 500 and 2000, prior to the introduction on the new notes.

As such, in the lower end of the denomination series, Rs 200 has been the missing link. Recently, the Rs 50 note with a new look and additional security features had been introduced by the RBI. Earlier this month, Finance Minister Arun Jaitley had said that the government is not considering banning Rs 2,000 notes.


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