Modi government notifies introduction of Rs 200 note

The Modi government today notified introduction of new Rs 200 notes, according to a notification in the Gazette of India. The printing process of the new currency is almost over and the Reserve Bank of India (RBI) is likely to circulate them any time now.

This will be the first ever new note to be introduced by the RBI after the Rs 500 and Rs 2,000 notes introduced post the massive currency culling exercise in November last year.

According to reports, Rs 200 notes will help bridge the gap between Rs 100 and Rs 500 notes and the RBI believes that they will become a 'very popular' denomination.

This is the fourth new note that be circulated in less than a year. Last week, the central bank disclosed the new-look of Rs 50 note, providing details of the new security highlights. The old 50-rupee note, however, will continue to exist.

“The Reserve Bank of India will shortly issue Rs 50 denomination banknotes in the Mahatma Gandhi (New) Series, bearing a signature of RBI Governor Urjit R Patel. The new denomination has a motif of Hampi with Chariot on the reverse, depicting the country’s cultural heritage. The base colour of the note is Fluorescent Blue,” RBI said in a statement on Friday.

Finance Minister Arun Jaitley today said the government is not considering banning Rs 2,000 notes, and the Reserve Bank will decide on the timing of issuing the new Rs 200 bill.

Fresh Rs 500 and Rs 2000 notes were introduced, post demonetising the Rs 500 and 1,000-rupee notes last year.