After demonetising Rs 500 and Rs 1000 notes on November 8, 2016, RBI or Reserve Bank of India is soon going to introduce the Rs 200 note to make it easy for the resident of India and fill in the huge demand of cash across the country. A top government official said, “The print order has been placed by the RBI. The exercise of printing Rs 200 denomination notes is being undertaken to further improve the current situation of lower denomination notes in the country.”
Post demonetization, cash management agencies have been facing a tough time and with the introduction of the new Rs. 200 note people can easily withdraw lesser dominations as now they are forced to withdraw Rs 500 note from the ATM.
The Decision was taken by the Reserve Bank of India with the consultation of Finance Ministry in March, 2017. However, nothing has been announced officially regarding the design of the new Rs 200 note, but some images have been doing rounds on social media networks.
Features of the Rs 200 Currency note
- The Rs 200 currency note will carry advanced security features which will be of great help for everyday transactions.
- The notes that will be printed will be undergoing multiple checks for security and quality purpose at government printing press.
- Authorities are taking extra precaution to prevent counterfeiting of the currency.
- Similarly to the Rs 200 and Rs 500 currency note, the government may choose to change security features of the higher domination banknote every 4 to 5 years.
A shock wave was sent across the nation by the Prime Minister Narendra Modi on November 8, 2016 as he announced demonetization. After the new currency was introduced, it was claimed that the new currency note comes with a chip that helps the authority to locate the currency. However, this rumor was rubbished by the Finance Minister Arun Jaitley.