RBI introduces Rs.200 note

0
691

The Reserve Bank of India launched the new Rs.200 note on 25 August 2017 with a promise that the supply of the new currency will be ramped up in the coming months. This is the first time the Central Bank has introduced a note of this denomination.

There were long queues outside the RBI offices last week to get the Rs.200 currency note. The RBI introduced the Rs.200 note with the intention of making it easier for transacting in lower currencies. It is also intended to replace soiled banknotes and combat counterfeiting.

The RBI mentioned in a release that Rs.200 notes are only available through select RBI offices and banks and the supply of these notes will increase with the demand. This is in alignment with the practice followed when there is an entry of a new denomination of currency into the banking system.

The Central Bank also stated in the release that it has employed currency printing presses to ramp up the production of the new notes and ensure that these are available in adequate quantity.

The RBI had introduced the new Rs.2,000 and Rs.500 notes following the demonetisation exercise in November 2016. Recently, the Rs.50 note was also revamped with a new look and extra safety features.

The newly launched Rs.200 note is a bright yellowish-orange in colour with the motif of the Sanchi Stupa depicting the country’s cultural heritage. The note also has a raised printing of the portrait of Mahatma Gandhi for the visually impaired. Additionally, it has a raised identification mark H and four angular bleed lines on the left and right sides. There are two circles in between the angular lines as well. The note has dimensions of 66 mm x 146 mm.

Before the introduction of the new note, the currency denominations available were Rs.1, Rs.2, Rs.5, Rs.10, Rs.20, Rs.50, Rs.100, Rs.500, and Rs.2,000. The Central Bank mentioned that the new Rs.200 note will plug the gap between the denominations of Rs.100 and Rs.500 and render a good mix of currency denominations to the banking system.

LEAVE A REPLY

Please enter your comment!
Please enter your name here