RBI to issue first-ever 200-rupee note
New Delhi, Aug. 23 (Agencies): The government on Wednesday gave its go-ahead to the Reserve Bank of India to issue 200-rupee notes to ease the pressure on lower-denomination currency bills.
The finance ministry, in a notification, said that, on the recommendations of the Central Board of Directors of the RBI, “the central government hereby specifies the denomination of banknotes of the value of two hundred rupees”.
The 200-rupee are likely to be in circulation shortly.
Following the surprise demonetisation of 500-rupee and 1000-rupee notes on November 8 last year, which junked 86 per cent of the currency in circulation, there had been an acute shortage of cash.
The shortage persisted for months as the RBI introduced 2000-rupee notes, followed by a new series of 500-rupee notes, with currency presses working overtime.
With the introduction of the 200-rupee notes, it should be easier to get change for 2000-rupee notes.
The RBI said last Friday it would shortly introduce a new 50-rupee note in fluorescent blue, bearing the motif of 'Hampi with Chariot', depicting India's cultural heritage.