On Friday, long queues of people were seen at RBI offices to get new Rs 200 currency note.
Mumbai: The Reserve Bank on Friday launched the bright yellow 200 notes and said it will shortly ramp up the supply of the new currency note across the country. Long queues of people were witnessed at RBI offices on Friday to get the new Rs 200 currency note that has been introduced for the first time by the central bank.
The RBI has launched the Rs 200 note with an aim to make it easier for the common man to transact in lower denomination currencies. These notes are available only through "select RBI offices and banks as is normal when a new denomination of notes is introduced and the supply increases gradually", the
RBI said in a release.
The production of these notes is being "ramped up by the currency printing presses, and over time as more notes are printed, it will be distributed across the country through the banking channels and will be available for public in adequate quantity", the release said.
Following the demonetisation of Rs 1,000 and Rs 500 notes last November, the central bank had introduced Rs 2,000 notes and new Rs 500 notes. As per the new policy on theme-based currency notes, the Rs 200 bill bears motif of Sanchi Stupa to depict India's cultural heritage. The base colour of the note is bright yellow, the RBI said.
The RBI had said that Rs 200 note will provide the "missing link" and ensure optimal mix of currency denominations. Prior to the introduction on the new notes, India has currency denominations of Rs 1, 2, 5, 10, 20, 50, 100, 500 and
As such, in the lower end of the denomination series, Rs 200 has been the missing link. The RBI had recently introduced Rs 50 note with a new look and additional security features. Earlier this month, Finance Minister Arun Jaitley had
said that the government is not considering banning Rs 2,000 notes.