Rs 200 note to be launched tomorrow

New Delhi: If sources are to be believed, The Reserve Bank of India (RBI) will  issue new currency notes of Rs 200 from tomorrow. The Finance ministry has issued a notification in this regard. Speculations were been made in the market in this regard for quite some time. “In exercise of the powers conferred by sub-section (1) of section 24 of the Reserve Bank of India Act, 1934 and on the recommendations of the Central Board of Directors of the Reserve Bank of India, the Central Government hereby specifies the denomination of bank notes of the value of two hundred rupees,” the finance ministry notified through the Gazette of India.

After the notification issued today, it is believed that the RBI will start the printing of the notes soon and will make it available for circulation as it has made all the arrangements in the past for the printing of the said notes. Introduction of Rs 200 notes will facilitate cash usages from a transaction motive perspective, and will increase the share of smaller denomination notes in the overall currency circulation.

The new note will measure 66mmx135mm. Since demonetization move by the Prime Minister Narendra Modi on November 8, 2016, it was speculated that Government will go for Rs 200 currency notes and will not allow the printing and circulation of Rs 1000 notes. Introduction of Rs 200 note will fill in the “missing middle” even as the new currency in circulation (CIC) has already reached 84 per cent of the pre-demonetisation level. (UNI)