29-06-2017 11:00 AM | Lathika Saju | My Indian Dream
Know more about Rs 200 notes, which shall be introduced soon...
While the country’s re-monetisation exercise appears to be entering its final lap, it will become easy for consumers to conduct transactions as Rs 200 notes will be introduced soon.
The Reserve Bank of India (RBI) had placed an order for notes of Rs 200 denomination and one of the government-owned facilities have started printing the bills.
Soumya Kanti Ghosh, group chief economist at the SBI Group said that the introduction of 200 rupee notes will add to the ease of operations while conducting day to day transactions.
Earlier the government had examined that the introduction of Rs 200 notes will help people to carry out transactions easily and RBI board also cleared the proposal to issue banknotes of Rs 200 denomination.
According to data given by the State Bank of India research, there were roughly 1,650 crore notes of Rs 500 in circulation before the November 8 de-monetisation. With the removal of these notes, there was a big gap in the value of notes in circulation.
To fill the void, Rs 2000 notes were introduced, but they could replenish only a minor part. A larger part was filled by the Rs 500 notes.Ghosh said that the missing middle part of the void will be replenished by the introduction of 200 rupee notes.
The notes will have advanced security features to prevent counterfeiting.
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