New Delhi, August 24: Increasing availability of lower denomination currency in the system, the Reserve Bank of India (RBI) for the first time has issued Rs 200 bank notes today i.e. August 25, 2017. The new Rs 200 bank note is believed to address the liquidity issue and reduce the burden on Rs 100 currency note. People have started queueing up to withdraw new notes in the denominations of fluorescent blue Rs 50 and bright yellow Rs 200 from the Reserve Bank of India. The new 200 rupees notes are of the size 66 mm x 146 mm
The Rs 200 denomination banknotes in the Mahatma Gandhi (New) Series bear a signature of the Governor of Reserve Bank of India, Dr. Urjit R. Patel. The base colour of the note is Bright Yellow and has Motif of Sanchi Stupa on the reverse side, depicting the country’s cultural heritage. The note has other designs, geometric patterns aligning with the overall colour scheme, both at the obverse and reverse. There is also an Ashoka Pillar emblem embossed on the right corner.
In India, there are currency denominations of Rs 1, 2, 5, 10, 20, 50, 100, 500 and 2000. As such, in the lower end of the denomination series, Rs 200 is the missing one. Now, with RBI’s latest notification, Rs 200 would be issued on Friday. Since there is no currency denomination between Rs 100 and Rs 500, the Rs 200 note is believed to get majority
Prime Minister Narendra Modi on November 8, 2016, made a surprise announcement and said banknotes of Rs 500 and Rs 1000 would not be a legal tender from midnight. This announcement sent shock waves across the nation. To ease the cash crunch, Rs 2,000 and Rs 500 notes were introduced across the country. The RBI said in its release that the optimal system of denominations of currency (coins and notes) is one that would minimize the number of denominations and concurrently increase the probability of proffering exact change. The provision of new denomination currency aims to facilitate the exchange for the common man who deals with lower denominations.
The new Rs 200 note also includes features for the visually impaired. An intaglio or raised printing of Mahatma Gandhi portrait, Ashoka Pillar emblem, raised Identification mark H with micro-text Rs 200, four angular bleed lines with two circles in between the lines both on the right and left sides.
As per RBI, the design was chalked out keeping in consideration various factors like ease of transactions for the common man, replacement of soiled banknotes, inflation and the need for combating counterfeiting. The new move will increasing the probability of proffering exact change, especially at the lower end of denominations, there was a logical need to introduce the missing denomination of Rs. 200, which will make the present currency system more efficient.