Mumbai: Hold your breath, another first is going to happen soon. RBI has okayed a proposal to print mid denomination notes, higher than Rs 100 hundred and smaller than Rs 500. Yes, Rs200 notes will be reality soon.
The proposal to this effect was cleared by the Reserve Bank of India (RBI) Board in March, reports quoting sources said. The printing is likely to begin after June, after the Modi government formally gives its nod. The Rs 200 note will have more security features than current set of notes, and thus will difficult to duplicate.
It is part of government’s strategy to rework the currency mix, which currently is loaded in favour of high-denomination notes. As on March 24, the currency in circulation was just 27% of the pre-demonetisation level.
RBI spokesperson, however, declined to comment on the Rs 200 note.