RBI to introduce Rs 200 notes from September
The Reserve Bank of India will issue Rs 200 denomination currency notes most probably in last week of August or first week of September.
According to report in Economic Times, RBI is likely to put the proposed Rs 200 bank notes in circulation by the end of August or in the first week of September.
Also, the Central Government specified the introduction of denomination of bank notes of two hundred rupees. Check Gazette notification here.
The total value of new Rs 200 notes would be around Rs 50 crore. "There is no other denomination available between Rs 100 and Rs 500 and RBI is expecting Rs 200 notes to become very popular and that's why it is taking every step to ensure availability of it," ET quoted a source as saying.
The RBI is taking extra efforts to make Rs 200 note to be popular in the currency market as there is no other denomination currently available between Rs 100 and Rs 500 note.
The new Rs 200 note will come with enhanced security features in a bid to prevent counterfeiting.
Following the November 8 decision on demonetisation, the Rs 500 and 1,000 notes were withdrawn. This accounted for 86 per cent of the currency worth Rs 17.9 lakh crore. The currency circulation with the public was at Rs 14.6 lakh crore as on June 9. This is still 18.4 per cent lower than the pre-demonetisation level.