India witnessed the introduction of a new currency note in the form of Rs 2000 when PM Narendra Modi announced the demonetization drive on 8th of November 2016. If the reports from Reserve Bank of India (RBI) are to go by, there is another new banknote on its way – Rs 200! Proposal to print Rs 200 denomination was issued at the RBI board meeting in March with printing the new Rs 200 notes is likely to begin after June. But there’s a picture of Rs 200 bank note doing rounds on WhatsApp as well as social media, hinting at the Rs 200 specimen minted Mahatma Gandhi New Series is already out in the market. The authenticity of the lesser denomination currency note has not been established and this image of blue coloured Rs 200 note is yet to be branded real or fake. Rs 1000 new note specimen picture is viral: Is this how the new currency note looks like?
According to the reports, RBI has cleared a proposal to introduce currency notes of Rs 200 denomination. In fact, this decision was taken the previous month, and the process of printing the new denomination banknotes is likely to begin after June, once the government officially confirms and gives Rs 200 a green signal. Amidst all the speculations over the Rs 200 currency notes, a photograph of the new denomination has resurfaced. The picture shows a person holding a crisp banknote bearing Rs 200 denomination minted under Mahatma Gandhi New Series. It is blue-purplish in colour, a stark difference from magenta (pink) coloured Rs 2000 notes and stone-grey coloured Rs 500.
New 10 rupee notes made of plastic polymer
Earlier, Reserve Bank of India (RBI) also announced the plans to introduce a new Rs 10 currency note. The new Rs 10 bank notes is going to be made from plastic, and the polymer-based notes are expected to more durable and difficult to counterfeit. New notes will be introduced after conducting field trials for a billion 10-rupee plastic notes in – Kochi, Mysore, Jaipur, Shimla and Bhubaneswar. The new Rs 10 currency notes will be smaller and stronger with added special features. Meanwhile, Old Rs 10 notes will not be scrapped and remain valid.
No plans to introduce Rs 21 and 51 currency notes
The huge steps taken from Reserve Bank of India in recent times have also created a surrounding of speculations. There were rumours over government planning to issue Rs 21 and Rs 51 currency notes, but they declined of any such proposal. Minister of State for Finance Arjun Ram Meghwal spoke about not considering any proposal to introduce Rs 21 and 51 currency notes. He also shed light over having no suggestion to demonetise currency notes of Rs 50 and Rs 100.
Common men in India are still grappling with the effects of PM Modi’s demonetization rule. The demonetization of Rs 1000 and Rs 500 currency notes scrapped 86 percent of the currency in circulation. The market is stashed with currency notes of higher denominations, newly introduced Rs 2000 and reformed Rs 500 while Rs 100 notes have become a rare sight. It is an everyday struggle to find change for the Rs 2000, but RBI is likely to sort this problem out very soon. Hopefully, the introduction of Rs 200 currency notes eases the pressure of a common man’s everyday routine, and also we wonder if the picture going viral is that of the new Rs 200 note specimen.