200 rupee note look like this? RBI places order to print

200 rupee note look like this? RBI places order to print. Photo: Twitter

New Delhi, July 4: RBI has placed an order to print the new denomination currency. The notes of Rs 200 denomination are being printed in one of the government-owned facilities. The introduction of the Rs-200 currency notes predates the federal government’s decision to overnight withdraw bills of the higher denomination in November as part of a broader exercise to stop counterfeiting and curbing untaxed cash in Asia’s third-biggest economy.

The RBI board had before cleared the proposition to issue banknotes of Rs 200 group. The administration, as well, had analysed the presence of the new notes that would enable residents to execute effectively. Prior to the November 8 de-monetisation, there was around 1,650 crore bits of Rs 500 notes available for use, as per information from the State Bank of IndiaBSE – 0.53 % look into. With the expulsion of this arrangement from the framework, there was a substantial crevice in the estimation of notes available for use.

Lower group notes help the administration’s endeavours at realigning the money blend in the framework. Amid demonetisation, it had requested the withdrawal of the then existing Rs 500 and Rs 1,000 cash notes, which represented around 86% of the money available for use of Rs 17.9 lakh crore. As on June 9 this year, the cash dissemination with the general population is at Rs 14.6 lakh crore, still 18.4% lower than the pre-demonetisation level.