RBI to roll out Rs 200 currency notes in less than two weeks
Mumbai: For the first time in history, Reserve bank of India (RBI) is very likely to roll out the new Rs 200 notes by end of August or early September.
The new denomination notes, which will initially have a print run of 50 crore, will help the banking regulator and the government launch a renewed fight against black money and counterfeit currency.
Demonetisation, which illegalised the popular Rs 500 and Rs 1000 notes overnight, is largely believed to be the first major step taken to immobilise the black market in Asia’s third biggest economy.
The Rs 200 notes will help bridge the gap between Rs 100 and Rs 500 notes. Reportedly the RBI believes the Rs 200 notes will become a ‘very popular’ denomination. The new Rs 200 note will come with enhanced security features in a bid to prevent counterfeiting.
Chief Economist at State Bank of India Soumya Kanti Ghosh pointed out that the new notes will ease the ‘operational difficulties’ faced by the common man.