Trending

RBI begins printing Rs 200 currency notes




To ease the pain of transactions, the Reserve Bank of India (RBI) has finally started printing Rs 200 currency notes.

This is pegged as the last exercise of remonetisation.

"For day-to-day transaction purposes, the introduction of 200 rupee notes will add to the ease of operations," said Soumya Kanti Ghosh, group chief economist at the SBI Group,

The new Rs 200 note will bring some respite after the government decided to scrap Rs 1000 note and re-introduce Rs 500 note.

"The introduction of 200 rupee notes will replenish the missing middle, triggered by the withdrawal of the old series of 500 rupee notes," Ghosh added.

During demonetisation, the government withdrew old Rs 500 and Rs 1,000 currency notes, which accounted for about 86% of currency in circulation of Rs 17.9 lakh crore.

As on June 9 this year, the currency circulation with the public is at Rs 14.6 lakh crore, still 18.4% lower than the pre-demonetisation level.

The printing of currency notes is done either in printing units run by the government-run Security Printing and Minting Corporation of India Ltd or at printing presses in Mysore (Karnataka) and Salboni (West Bengal), managed by the RBI-owned Bharatiya Reserve Bank Note Mudran Private Ltd.

  • Blogger Comments
  • Facebook Comments
Item Reviewed: RBI begins printing Rs 200 currency notes Rating: 5 Reviewed By: PRASHANT ENTERPRISES