The Reserve Bank of India is set to introduce Rs 200 notes. According to news agency ANI, a top government official, who was involved in the decision-making process, said, “Printing order (for Rs 200 notes) has been placed.” The decision to introduce new notes was taken by the RBI with the consultation of Finance Ministry in March. Earlier in the day, the Supreme Court asked the Centre to give genuine cases who were not able to deposit old currency notes in time, ‘another chance’. Earlier in the day, the Supreme Court asked the Centre to allow genuine cases who were not able to deposit old currency notes of Rs 50-0 and Rs 100o in time, ‘another chance’.
On November 8 last year, the Centre government announced that Rs 500 and Rs 1000 notes would no longer be a legal tender from November 9. The government had also introduced new Rs 2,000 and Rs 5,000 notes and kept the old Rs 100 notes as a legal tender.
According to a report in Economic Times, Soumya Kanti Ghosh, group chief economist at the SBI Group, “For day-to-day transaction purposes, the introduction of 200 rupee notes will add to the ease of operations. The introduction of 200 rupee notes will replenish the missing middle, triggered by the withdrawal of the old series of 500 rupee notes.”
“The new 200 notes will carry advanced security features. The authorities are taking extra precaution to prevent counterfeiting,” a source aware of the printing schedule said.