RBI gets green signal for `200
The Centre on Wednesday gave its nod to the Reserve Bank of India to issue `200 notes in order to ease pressure on lower-denomination currency bills.
“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,” said a finance ministry notification in the Gazette of India.
“The government has today specified denomination of bank note of `200 value. Soon this note will get added to the bucket of currency notes in India,” said Subhash Chandra Garg, economic affairs secretary.
The `200 denomination notes is being brought to further improve the currency
ARUN JAITLEY refuted all suggestion that the `2,000 note will be banned by the government
situation in the country. Following the demonetisation, RBI had introduced `2,000 notes and also issued new `500 notes with additional security features.
RBI has also introduced new fluorescent blue `50 banknotes bearing the motif of ‘Hampi with Chariot’ that depicts India’s cultural heritage.
Meanwhile, Mr Jaitley said the Centre is not considering banning `2,000 notes, and RBI will decide on the timing of issuing the new `200 bill.
“The whole process regarding by when the notes will be printed, RBI will take care of that issue,” said Mr Jaitley.