RBI Likely to Release Rs. 200 Note in August to Make it Larger Denomination Scrapping Rs. 500 and Rs. 2000 Notes

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RBI Likely to Release Rs. 200 Note: As far as the reports, RBI has finalised the design for Rs. 200 and started printing the note. While this is in the process, there was another allegation that RBI has stopped printing Rs. 2000 Notes. The Reserve Bank of India (RBI) stopped printing of Rs 2,000 notes some five months back and has begun printing Rs 200 notes that will be introduced next month.

The Mint report comes around 9 months after demonetisation announcement and the introduction of Rs 2000 notes by the RBI. It says that the RBI has speeded-up the printing of new Rs 200 currency notes and other denominations. This has been taken to clear all the allegations on the fake currency and illegal cash deals to make the Rs. 200 Note the larger denomination.

RBI Likely to Release Rs. 200 Note in August:

After demonetisation, it was easy for the overburdened government mints and the RBI to infuse a large amount of money into the system in short time by printing Rs 2,000 notes, compared with Rs 500 or Rs 100 notes.

According to Firstpost, More units of lower denomination notes—whether Rs 100 or Rs 200—will make low-value daily transactions that are maximum in number easier and help to bring back the lost momentum on the economic activities. But, the point here is that till the time high value notes stay, cash-based black money generation won’t stop.

More people move to electronic transactions, the government should gradually kill Rs 500 and Rs 2,000 notes and make Rs 100 and Rs 200 notes the highest available currency denominations in the economy on the lines of developed world.

PTI reported on July 23 that introduction of Rs 200 note will fill in the “missing middle” even as the new currency in circulation (CIC) has already reached 84 per cent of the pre demonetisation level. It said that RBI had “put order” for the printing of Rs 200 notes.
State Bank of India Ecowrap report found that a mismatch was caused by the presence of Rs 2,000 denomination straight after Rs 500 denomination. Noting the importance of Rs 200 notes, the report said, “Notes of Rs 2,000 denomination in ATMs may find few takers because of missing middle/Rs 200 note.”

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