Mumbai, Aug. 24: The Reserve Bank of India (RBI) will come out with Rs 200 notes for the first time from tomorrow. The central bank hopes the move will help ease transaction hassles.
The new notes, which bear the signature of governor Urjit Patel, comes soon after the Centre gave the green signal to the RBI to issue the new currency bill.
According to the new policy on theme-based currency notes, the Rs 200 note bears the motif of Sanchi Stupa to depict the country's cultural heritage. The base colour of the note is bright yellow.
After the Union government demonetised Rs 500 and Rs 1,000 notes in November, the RBI had introduced new Rs 2,000 and Rs 500 notes. However, people have been facing difficulties in getting change because of the lack of smaller denomination notes.
The central bank said in a statement that the Rs 200 note will provide the "missing link", facilitate the ease of transaction, and ensure an optimal mix of currency denominations.
It pointed out that while India had currency denominations of 1, 2, 5, 10, 20, 50, 100, 500 and 2000, Rs 200 has been the missing link in the lower end of the series.
The Rs 200 notes will carry the portrait of Mahatma Gandhi at the centre and the number 200 with the rupee symbol in a colour-changing ink - green to blue - on the bottom right on the obverse (front) side of the note, the RBI added.
The reverse side of the note will carry a Swachh Bharat logo with the slogan and the Sanchi Stupa motif. The new note will be 66mmX146mm in dimension.
According to the RBI, the introduction of the new currency denomination and design is done keeping in consideration various factors such as ease of transactions for the common man, replacement of soiled banknotes, inflation and the need for combating counterfeiting.
"To achieve the optimal system of currency that would minimise the number of denominations while increasing the probability of proffering exact change, especially at the lower end of denominations, there is a logical need to introduce the missing denomination of Rs 200, which will make the present currency system more efficient," it felt.
According to the RBI, provision of the new denomination, would facilitate exchange, particularly for the common man who deals with denominations at the lower end.
The optimal system of denominations of currency (coins and notes), RBI said is one that would minimise the number of denominations and concurrently increase the probability of proffering exact change.
For visually impaired, the front side of the note will have intaglio or raised printing of Mahatma Gandhi portrait, Ashoka Pillar emblem, raised identification mark 'H' with micro-text Rs 200, four angular bleed lines with two circles in between the lines both on the right and left sides.