Printing of Rs 200 notes is just Started: As per the latest reports, the process of Printing of Rs 200 notes is just started. For the First time, Rs 200 notes will be considered for Circulation.
The Development of new 200 Rs notes has been started after 8 months when PM Narendra Modi declared the demonetization of Rs 500 and Rs 1000 in November 2016. The old Rs 500 and Rs 1000 notes were holding the circulation of more than 86% all over the country. The Government declared the new version of Rs 500 and Rs 2000 notes.
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Printing of Rs 200 notes is just Started
Due to the Introduction of new Rs 2000 note, people are facing a lot of trouble of Circulation. While the introduction of new Rs 200 notes will make ease in Transaction. The introduction of new notes will be beneficial for Circulation in the country.
The Reserve Bank of India is printing Rs 200 notes in a Government Owned Office in the country, as per one report by ET. However, Government has not officially declared any notice regarding the new notes.
Soumya Kanti Ghosh, Chief Economist at the SBI Group said, “For day-to-day transaction purposes, the introduction of 200 rupee notes will add to the ease of operations.”
“The new 200 notes will carry advanced security features. The authorities are taking extra precaution to prevent counterfeiting”, as per the report by ET.
During the Demonetisation, the Government had ordered the withdrawal of Rs 500 and Rs 1000 notes, which were holding the currency circulation of about 86%, i.e. Rs 17.9 lakh Crore. Until June 9, 2017, the Currency Circulation with the public is Rs 14.6 lakh crore, which is still 14.6% low as compared to the pre-Demonetisation level.
Will New Rs 1000 note also arrive in the market?
Apart from Rs 200 notes, there are also some discussions about the new Rs 1000 notes.
As per one report by Indian Express, Reserve Bank of India has started printing the new Rs 1000 note from January 2017, but due to the high demand of Rs 500 notes in the market the printing of new Rs 1000 notes were kept on hold.
According to a source, the new Rs 1000 note will have a new design, new color, and new dimension. The new Rs 1000 and Rs 200 notes will be introduced later in this year.
We hope, new Rs 200 and Rs 1000 notes to arrive on the market as soon as possible.