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

How 2025 Could Change the Legal Landscape for AFFF Victims

Aqueous film-forming foam (AFFF) toxicity is a growing concern, linking exposure to severe health risks…

1 hour ago

PM to visit Vizag on 29 November

Prime Minister Narendra Modi will visit Visakhapatnam on 29 November to launch and lay stone…

2 hours ago

Bids open for South Coast Railway Zone office in Visakhapatnam: 5 things to know

After years of delays, the establishment of the South Coast Railway (SCoR) Zone with its…

2 hours ago

Confused what to watch? Check top 7 most-watched movies from 2024!

Google TV recently released a list of most-watched movies from 2024, Road House starring Jake…

2 days ago

Get set for tuneful delight

On 6 December, the tranquil sea in Visakhapatnam is set to make a soothing sound…

2 days ago

Binge-worthy buffets in Visakhapatnam will take your Sunday to next level!

Why order a ton of dishes and worry about the bill piling up when you…

2 days ago