CONFIRMED: Reserve Bank Of India To Issue New Rs 200 Notes From Tomorrow!

न्यूज़ वर्ल्ड इंडिया | 0
| August 24 , 2017 , 13:28 IST

Although rumours had been coming that the new Rs 200 denomination bank notes were to be issued at the end of August or the first week of September, the Reserve Bank has officially confirmed that the Rs 200 notes will be issued from Friday.

In an official statement, the RBI said that it will issue the Rs 200 denomination banknotes in the Mahatma Gandhi (new) series from select RBI offices, and some banks on Friday. The notes will bear the signature of RBI Governor Urjit Patel, and motif of Sanchi Stupa on the reverse with a base colour of note bright yellow.

For the first time in Indian history, Rs 200 denomination bank notes will be introduced into circulation, and are expected to bridge the current gap between the Rs 100, Rs 500 and Rs 2,000 notes.

According to reports, the Reserve Bank of India is making full efforts on preventing the possibility of illegal trade of the new currency notes and is, therefore, planning to build a base of around 50 crore notes of Rs 200 denomination to start with so that there is no scarcity or possibility of black marketing of the notes.

"There is no other denomination available between Rs 100 and Rs 500 and RBI is expecting Rs 200 notes to become very popular and that's why it is taking every step to ensure availability of it," a source said to Economic Times.

After the sudden release of the Rs 2000 currency notes, there were reports of illegal hoarding and black marketing of the notes, which is why the release of the Rs 200 notes is being planned more carefully.