Rbi To Innovate Rs. 200 Notes

After successfully launching Rs 2000 together with Rs 500 notes inwards the market, the Reserve Bank of Republic of Republic of India (RBI) has cleared a proposal to introduce Rs. 200 denomination banking venture notes. If introduced, Rs 200 volition live the minute novel denomination to live introduced afterwards the Rs 2,000 notes. The procedure of printing the novel Rs. 200 denomination notes volition commence afterwards June, 1 time the regime officially approves this novel denomination.

The deed to innovate lower denomination notes comes against the backdrop of the government’s deed to rework the currency mix. On eight November, it announced the withdrawal of Rs500 together with Rs1,000 currency notes, amounting to roughly 86% of currency inwards circulation of Rs17.9 trillion.

Since then, RBI has replaced these amongst the novel Rs2,000 together with redesigned Rs500 banking venture notes. As on 24 March, currency inwards circulation was Rs13.12 trillion, however roughly 27% off pre-demonetization levels. The regime is encouraging digital payments together with may non increase currency inwards circulation to the pre-demonetization level.

Note : Last calendar month RBI likewise started plain trials of plastic notes of Rs ten equally plastic notes are expected to concluding longer than cotton fiber substrate based banknotes.

sponsored links

Leave a Reply