Mumbai: India’s re-monetisation practice has all the earmarks of being entering its last lap, with the central bank starting to print notes of 200 rupees – maybe interestingly – to help ease customer exchanges.
The new Rs 200 note will accompany improved security includes in an offered to restrict duplicating. The RBI board had cleared the proposition to issue banknotes of Rs 200. This was trailed by a gesture of government following which to print the notes was given.
“For day-to-day transaction purposes, the introduction of 200 rupee notes will add to the ease of operations,” said Soumya Kanti Ghosh, group chief economist at the SBI Group.
RBI has supplanted these with the new Rs 2,000 and overhauled Rs 500 bank notes. As on 24 March, money available for use was Rs 13.12 trillion, still around 27% off pre-demonetisation levels. The government is empowering digital payments and may not expand cash available for use to the pre-demonetisation level.
The Rs. 200 Note will come up with more Advanced Security Features and Look. The shade of New Rs. 200 Note is not uncovered yet.
The printing of money notes is done either in printing units keep running the government run Security Printing and Minting Corporation of India Ltd or at printing presses in Mysore (Karnataka) and Salboni (West Bengal), overseen by the RBI-claimed Bharatiya Reserve Bank Note Mudran Private Ltd.
The RBI board has 14 individuals. Aside from Governor Urjit Patel and four deputy governors, the board additionally has monetary economic affair secretary Shaktikanta Das and financial service secretary Anjuly Chib Duggal.