RBI to Introduce Rs 200 Notes Soon
The Reserve Bank of India (RBI) has cleared the proposal to introduce Rs 200 notes. As per the recent reports from RBI, the Rs 200 denomination notes will be coming into usage soon.
RBI has taken this decision to introduce Rs 200 notes in board meeting which has been held in the month of Mach. This news has not announced to media.
Rs 200 denomination notes printing process is yet to begin. Reportedly the printing of Rs 200 notes will begin after June month. This report was said by one of the RBI spokesmen.
The RBI board has 14 persons. Aside from representative Urjit Patel and four agent governors, the board also has economic affairs secretary Shaktikanta Das and financial secretary Anjuly Chib Duggal.
The RBI has taken this movie to compensate the lower denomination notes shortage due to demonetization of currency.
RBI Evaluation after Demonetization of Big Notes
On 8 November, it declared the withdrawal of Rs 500 and Rs 1,000 cash notes, adding up to around the 86% of money available for use of Rs 17.9 trillion.
From that point forward, RBI has supplanted these with the new Rs 2,000 and updated Rs 500 certified notes. As on 24 March, cash available for use was Rs 13.12 trillion, still around 27% off pre-demonetization levels. The Government is empowering digital payments and may not build money available for use to the pre-demonetization level.
On 13 March, RBI lifted all money withdrawal limits. ATM services, also, say that there is a scarcity of lower denomination banknotes.
Up until this point, the national bank has not uncovered what number of the old money notes it has once again from people in general. The window for Indians who were out of the nation between 8 November and 30 December completed on Friday.