The Reserve Bank of India (RBI) will issue the first-ever Rs 200 denomination banknotes tomorrow. The currency note is expected to address liquidity issue and also reduce the burden on the Rs 100 note.
The base colour of the Rs 200 note is bright yellow, reminiscent of the now discontinued Rs 2 note.
“The Reserve Bank of India will issue on August 25, 2017 ₹ 200 denomination banknotes in the Mahatma Gandhi (New) Series, bearing signature of Dr. Urjit R. Patel, Governor, Reserve Bank of India from select RBI offices, and some banks. The new denomination has Motif of Sanchi Stupa on the reverse, depicting the country’s cultural heritage,” the release said.
Last month, the State Bank of India Ecowrap report had said that the introduction of Rs 200 note will fill in the “missing middle” even as the new currency in circulation (CIC) has already reached 84 per cent of the pre-demonetisation level.
The circulation of the new note is likely to bridge the shortage of small currency denomenation notes that have faced a shortage after introduction of Rs 2000 note and demonetisation of Rs 500 and Rs 1000 notes. RBI also expects the new note to be very popular as there is no other denomination between Rs 100 and Rs 500 notes.