RBI to introduce Rs 200 notes

Filed under: Business |

August 23, 2017

The Reserve Bank of India will soon issue 200-rupee notes, which it hopes will fill the still vast demand for cash after demonetisation wiped out over 85 per cent of the cash in circulation.

The Reserve Bank of India proposal to bring in the 200-rupee notes for the first time in history was cleared by the Finance Ministry and the design has reportedly been approved by the Prime Minister’s Office, reports NDTV.

Finance Ministry sources told NDTV that the new notes, which are being printed at a government press in Mysuru, will help liquidity.

Currently, there is no denomination between Rs 100 and Rs 500, the introduction of Rs 200 note is likely to make cash transactions smoother.

Last week, the RBI introduced new Rs 50 denomination banknotes. The new notes will be of a dimension 66 mm x 135 mm. It will feature the motif of Hampi with a chariot and will have the signature of Urjit R Patel, Governor, RBI. The note will be in fluorescent blue. (Agencies)

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