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 26/08/2017 3:35 pm

Leave a Comment
Published by
yovizag

Recent Posts

This Dutch bungalow in Vizag is now a museum & has an unexploded WW2 bomb shell!

If you've got a free day and are looking for something interesting to do in…

30 minutes ago

Delhi Capitals team arrive in Visakhapatnam ahead of IPL 2025

After wrapping up their short training camp in New Delhi, the Delhi Capitals squad headed…

3 hours ago

Cabinet approves construction of LuLu Mall in Visakhapatnam

The Lulu Group has shown interest in developing malls across Andhra Pradesh’s major cities, including…

3 hours ago

6 Unique & unconventional dishes in Visakhapatnam for the adventurous eater

In Vizag, classics like muri mixture, punugulu, and biryani have long been celebrated for their…

19 hours ago

This week’s OTT releases: A mood-based guide on what to watch!

Last week's OTT releases were electrifying and engaging, making the week packed with entertainment. Every…

20 hours ago

Vizag beaches vs Radhanagar Beach: What can we learn from India’s top beach?

Visakhapatnam boasts a variety of stunning beaches along its coastline, each with unique characteristics, from…

23 hours ago