New Rs 200 Notes All Set For Release:- Prime Minister Narendra Modi surprised the country with ‘currency demonetisation’ after which he banned all the Rs 1000 and Rs 500 notes. In a surprising move, Rs 2000 notes have been introduced however there have been talks that they may be cancelled at any moment. The country faced huge crisis for currency and Modi wanted to make it stiff by promoting digital transactions. Common man suffered a lot with the crisis and now Reserve Bank of India (RBI) is all set to introduce Rs 200 notes. Though the talks about this have been on from sometime, a close source confirmed the news.
The new Rs 200 notes will be available from next month confirmed a source from the North Block and leading news daily India Today published the news. The first batch of Rs 200 notes have been printed and the process has been initiated in June. It takes 21 days for the process of printing to be completed and the first batch will be out during August. However Reserve Bank of India confirmed that 15 lakh crores worth currency has been taken out after currency ban and Rs 14.5 lakh new currency have been introduced.
RBI slammed currency crisis and they revealed that they introduced enough currency. They even revealed that the cash reservoir will be boosted once the Rs 200 comes into circulation. RBI also revealed that Rs 500 have been completely introduced into the market. Rs 200 notes will bring back the ease of currency circulation predicts financial analysts. It was the Finance ministry in March which took the decision to print and circulate Rs 200 notes. Currently, two RBI printing press under Bharatiya Reserve Bank Note Mudran Private Limited from Mysuru and Salboni are busy completing the printing formalities.
The quality checks have already been done for the new notes and an additional security layer has been added to the new introduced currency to check the counterfeit. Once the circulation of lower denominations increase, the government will slowly decline Rs 2000 notes which has been introduced last year to compensate Rs 1000 notes banned.
