Mumbai: The Reserve Bank of India on August 25 issued new Rs 200 and Rs 50 notes as part of its plans to ensure enough cash supply across banks in country. The central bank had earlier said it would come up with a new denomination of Rs 200 notes to bridge the gap between Rs 100 and Rs 500 denominations. The RBI has said that it will increase the production of lower denomination notes as they are hit among masses. Here, take a look.
RBI issued new Rs 200 and Rs 50 notes on August 25.
The 50 days demonetisation drive from November 8 to December 31 last year sucked out currency in circulation worth Rs 15.44 lakh crore, and also brought back scrapped notes worth Rs 15.28 lakh crore, just 1 per cent less than total currency in circulation at the time of note ban. RBI says more than 99 per cent currency came back to banking system. Initially, the RBI will make these notes available at select offices and identified bank branches.
Now country has Rs 50, Rs 100, Rs 200, Rs 500 and Rs 2000 denomination notes. (Photo: PTI)
The idea for coming up with new Rs 200 notes was mainly based on the notion that there was an urgent need for supply of a lower denomination note in the banking system. As after demonetisation of November 8 last year, the Centre had first issued Rs 2,000 notes that had caused a considerable amount of inconvenience. To add to the woes, there was a daily cash withdrawal limit from ATMs that was capped at Rs 2,000 initially.
