RBI To Bring Out ₹ 200 Notes Soon
Mumbai: To solve the problems in cash transactions, the Reserve Bank of India (RBI) is making efforts to bring out ₹ 200 notes. It is believed that RBI placed an order for the new ₹ 200 notes a few weeks ago at Hoshangabad and other government facilities.
The country had small denomination currency notes of ₹ 1, 2, 5, 10, 20, 50, 100, 500 and 1000 rupees until 8 November 2016. Now the RBI is printing denomination currency notes to further improve the currency situation in the country.
The decision to introduce ₹ 200 notes was taken by the central bank in March this year to overcome the paucity of lower denominations.
According to reports, different levels of security and quality checks are being undertaken during printing of the notes at the government’s press unit at Hoshangabad (Madhya Pradesh), at the printing press in Mysore (Karnataka) and Salboni (West Bengal), managed by the RBI-owned Bharatiya Reserve Bank Note Mudran Private Ltd.
The bank officials also feel that a currency denomination between ₹ 100 – ₹ 500 will make the currency transactions easier.