New Delhi: The Centre on Wednesday gave its nod to the Reserve Bank of India to issue Rs 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 Rs 200 value. Soon this note will get added to the bucket of currency notes in India,” said Subhash Chandra Garg, economic affairs secretary.
The Rs 200 denomination notes is being brought to further improve the currency situation in the country. Following the demonetisation, RBI had introduced Rs 2,000 notes and also issued new Rs 500 notes with additional security features.
RBI has also introduced new fluorescent blue Rs 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 Rs 2,000 notes, and RBI will decide on the timing of issuing the new Rs 200 bill. “The whole process regarding by when the notes will be printed, RBI will take care of that issue,” said Mr Jaitley.
