RBI to soon come out with Rs200 denomination banknotes

Nearly nine months after the Reserve Bank of India replaced the demonetised Rs1,000 and Rs500 notes with new series of Rs2,000 and Rs500 notes, the central bank has ordered the printing of Rs200 notes that would further ease transaction woes.

In fact, reports said, printing of Rs200 currency notes is in full swing and these notes, the first in the denomination, are expected to be in the market soon.

This is for the first time that a denomination of Rs 200 currency note would be introduced in India.

There is a severe shortage of lower denomination banknotes after the RBI issued more Rs2,000 and Rs500 notes post demonetisation. The issue of Rs200 notes will make transactions easier.

RBI, however, has not made any official statement or issued any notification on the matter.

Meanwhile, a report in The Economic Times, said the RBI is also likely to come out with a new series of Rs1,000 notes as well. Reports also said the fresh currency notes will come with new designs, specifications and enhanced security features.

With the issue of currency notes of Rs200 and Rs1,000 denominations, the number of currency denominations in India would go up to 10, including banknotes of Re1, Rs2, Rs5, Rs10, Rs20, Rs50, Rs100, Rs200, Rs1,000 and Rs2000.