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The Wait Is Over! Rs 200 Currency Notes Likely To Be Released In Beginning Of September

न्यूज़ वर्ल्ड इंडिया | 0
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| August 23 , 2017 , 13:26 IST

For the first time in Indian history, Rs 200 denomination bank notes will be introduced into circulation, and although news of the new currency notes coming for while, recent reports suggest that the Rs 200 notes may be released as early as the end of August or first week of September.

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.

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"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.

Meanwhile, group chief economist at State Bank of India Soumya Kanti Ghosh said, “A large number of new currency notes will thwart the operational difficulties which may be faced by a common man.”

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.

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“If the proportion of higher denomination notes is large in the total currency in the circulation, it incentivises hoarding and generation of unaccounted money,” Ghosh said.

“Introduction of Rs 200 notes will serve two purposes: to facilitate cash usages from a transaction motive perspective, and will increase the share of smaller denomination notes in the overall currency circulation,” the economist added.