RBI To Issue New Rs 200 Notes Tomorrow

The new Rs 200 currency note will be introduced in the market tomorrow, Reserve Bank of India said today.

The new denomination has Motif of Sanchi Stupa on the reverse, with Bright Yellow being the base colour of the note, RBI said in a statement.

"The Reserve Bank of India will issue on August 25, 2017 Rs 200 denomination banknotes in the Mahatma Gandhi (New) Series, bearing signature of Urjit R. Patel, Governor, RBI from select RBI offices, and some banks,"

The government had yesterday given its go-ahead to the Reserve Bank to issue Rs 200 notes that will ease pressure on lower-denomination currency bills.

(Source: RBI Press Release)

The finance minisatry, in a notification, yesterday said that on the recommendations of the Central Board of Directors of the RBI, "the central government hereby specifies the denomination of banknotes of the value of two hundred rupees".

According to sources, the exercise of printing Rs 200 denomination notes was being undertaken to further improve the currency situation in the country.

Following the demonetisation on November 9 last year, the Reserve Bank had introduced Rs 2,000 notes and also issued a new Rs 500 notes with additional security features.

So with the introduction of Rs 200 notes, the problem people face due to high-value Rs 2,000 notes would be taken care of.

The Reserve Bank has also introduced a new fluorescent blue Rs 50 banknotes bearing the motif of 'Hampi with Chariot' that depicts India's cultural heritage.

In a surprise announcement, Prime Minister Narendra Modi had in November last year announced scrapping of old notes of Rs 1,000 and Rs 500 notes, wiping out over 86 per cent of the cash in circulation.

(With PTI inputs)