Published: Thu, August 24, 2017
Economy | By Melissa Porter

New Rs 200 note to come into circulation from September

New Rs 200 note to come into circulation from September

Prepare your wallets for new currency notes - after a lot of speculation in the media, the government today confirmed that notes of denomination Rs 200 are indeed on their way. The particular date for the issuing of these notes has not been fixed yet but circulation will be starting by the last week of August or first week of September.

With fluorescent blue as its base colour, the new Rs200 currency notes will bear the picture of the iconic stone chariot at Hampi, Karnataka, on the reverse. "The Reserve Bank of India is expecting Rs 200 notes to become very popular, and that is why it is taking every step to ensure its availability". This INR 200 note is under processing of the security and quality check. It sounds like digital India is getting successful after the declaration of GST in India as well as demonetization of fake 500 INR and 1000 INR rupee note in India.

In a surprise announcement, Prime Minister Narendra Modi on 8 November announced scrapping of old Rs 500 and Rs 1,000 currency notes, wiping out over 85% of the cash in circulation.

This exercise of printing Rs 200 denomination notes is being undertaken to further improve the currency situation in the country, PTI has earlier reported quoting sources, adding the problem people are facing due to high-value Rs 2,000 notes would also be taken care of with the circulation of Rs 200 notes.

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

Rs 500: New note has shades of green and is smaller in size as compared to the note of the previous series. Even the fake currency has come down and the Reserve Bank of India has been in hunt for new methods to prevent all the ways to bring the crime rate down. RBI has given confirmation on the Rs 200 note. 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.

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