The Reserve Bank of India has announced the launch of the new Rs 200 currency note. The 'missing link' in between denominations especially after demonetisation, is set to release today.
It is now the fourth new note announced after the ban of Rs 1,000 and Rs 500 notes was announced last November by Narendra Modi. The move led to severe cash shortage in the economy and and created more requirement for lower denominations.
RBI issued a press release on the announcement saying: "The Reserve Bank of India will issue on August 25, 2017 Rs. 200 denomination banknotes in the Mahatma Gandhi (new) Series, bearing signature of Urjit R Patel, Governor, Reserve Bank of India from select RBI offices, and some banks. To achieve the optimal system of currency that would minimise the number of denominations while increasing the probability of proffering exact change, especially at the lower end of denominations, there is a logical need to introduce the missing denomination of Rs. 200, which will make the present currency system more efficient."
Here's what you need to know about the new Rs 200 note:
- The new note will be in a dimension of 66mm x 146mm
- The Rs 200 banknote will carry a portrait of Mahatma Gandhi at the centre and the denominational numeral '200' with rupee symbol in colour changing ink from green to blue on the bottom right on the obverse (front) side of the note
- For the visually impaired, the front side of the note will have a raised printing of a Mahatma Gandhi portrait, an Ashoka Pillar emblem, raised identification mark 'H' with micro-text Rs. 200, and four angular bleed lines with two circles in between the lines both on the right and left sides
- The reverse side of the note will carry a Swachh Bharat logo with slogan and the Sanchi Stupa motif
India has currency denominations of Rs 1, 2, 5, 10, 20, 50, 100, 500 and 2,000 and the new Rs 200 note will bridge the gap in between the lower denominations and higher ones. RBI recently introduced Rs 50 note with a new look and additional security features, although the old Rs 50 ones will still remain valid.
Via India Today.