The Rs 200 note is soon going to be a reality!

Ever since the central government banned the usage of old Rs 500 and Rs 1000 notes, there have been a lot of rumours circulating on the social media. One such news which did rounds was the introduction of the 200 rupees note. Even though initially it was brushed away as another rumour, this new currency note is soon set to make its debut into the Indian market.

The details of the 200 rupees note circulation

The news was confirmed as per a notification in the Gazette of India. Even the printing process of the new notes has been completed. The RBI is planning to bring the notes into circulation from early September.

This is the first time that the 200 denomination will be made available in the Indian history. It will be the first currency note between the Rs 100 and Rs 500 and hence, is expected to gain wide range popularity.

The RBI is trying hard to curb the illegal trade of currency notes and has been adopting several measures in doing so. Reportedly, RBI has even stacked about 50 crore notes of the new currency notes to make sure there is no shortage in supply.

According to group chief economist of SBI, Soumya Kanti Ghosh, the new currency will help serving two purposes. First, it would increase the share of smaller currency notes in the market and second, it will also ease the cash usage from a transaction perspective.

Earlier this month, the central bank unveiled the look of the new Rs 50 note and informed us about its security features. The old Rs 50 notes will, however, still be in existence.

News credits- The Economic Times

Header Image Credit : www.financialexpress.com

This post was last modified on %s = human-readable time difference 3:35 pm

Share
Leave a Comment

Recent Posts

MP pitches for Korean investments in Vizag

Visakhapatnam MP M Sribharat has urged the Korean Consulate to explore investment opportunities in Visakhapatnam.…

1 hour ago

Entry fee at Rushikonda beach, Visakhapatnam, from January 1

The Andhra Pradesh Tourism Department has announced plans to introduce an entry fee at popular…

2 hours ago

The Gateway says good bye to Vizagites

Leaving behind pleasant moments to cherish, The Gateway, the famous hotel located on the scenic…

16 hours ago

Excited for Kanguva to release? Watch these 7 similar movies while you wait

With the much-anticipated release of Kanguva, starring Suriya, just around the corner on November 14,…

16 hours ago

Calling all pasta lovers! Indulge in the creamiest Alfredo Pasta at these top spots in Visakhapatnam!

Alfredo Pasta, with its creamy texture, is a comforting dish for many. If something soft,…

17 hours ago

Bigg Boss Telugu 8: Voting numbers; Rohini and Nabeel’s family visit

Bigg Boss Telugu is in its eleventh week of airing and now is the time…

18 hours ago