RBI is likely to introduce Rs 200 bank notes in circulation first week of September 2017. Today the Finance Ministry has made an announcement in the Gazette of India, stating ” In exercise of the powers conferred by sub-section (1) of section 24 of the Reserve Bank of India Act since 1934. The Central Government hereby specifies the denomination of bank notes of the value of two hundred rupees”. This step is taken om order to stop black marketing and to build a stack on new denomination to meet all the possibility of illegal trade. The government is aiming ti limit the circulation of high denomination note and the smaller denomination notes would be increased by introducing a new Rs 200 note.
The new denomination will carry latest security features that will help in taking precaution to prevent counterfeiting. Recently many images hit on social media confirming the new look on Rs 200 note, along with the news of Rs 50 note to be introduced soon as well. RBI has given confirmation on the Rs 200 note. The government has also confirmed a new Rs 50 note but have not confirmed about its circulation yet. There are no notes between 100 to 500, the 200 note will definitely be catching good hike.
There is no fix date is made known, the new denomination will hit to banks as early as by next week or first week of September 2017. First time in history the new denomination notes were cleared by the Finance Ministry and the design has reportedly been approved by the Prime Minister’s Office as per the sources.