New Rs 200 Notes by RBI
There are reports floating around which state that Reserve Bank of India is all set to introduce currency notes of denomination INR 200. That’s pretty interesting and surprising at the same time because, those same reports actually claim that the decision for introducing new currency notes of INR 200 denomination was already embraced in March (last month).
Reported by Some Websites
Live Mint – a popular news website actually quoted the sources and stated that post June, printing of the new notes will commence once the Union Government gives RBI the green signal.
Interestingly, Live Mint is not the only website to come up with this report. There are a couple of other websites out there who have reported the same.
While these all reports are floating around, it is really difficult to verify the authenticity of such reports because none of the reporting websites have clearly mentioned the sources that offered such information.
Second Currency Note of New Denomination
Irrespective of whether the news is correct or just a rumor being aired by some people, INR 200 currency notes, if introduced, will become second currency note of new denomination to be introduced after a long time. The other one is 2000 rupees’ currency notes that were introduced in market after demonetization of November 8, 2016.
INR 2000 currency notes came under immense heat from opposition because while the whole purpose of demonetization was that of removing high value currency notes out of circulation, 2,000 rupees’ currency notes were of even higher denomination.
New Notes for Old Denominations Under Trail
While we are on the topic of currency notes, it is noteworthy to mention that Reserve Bank of India has already put INR 10 denomination’s plastic currency notes on trial. These new plastic notes are far superior is quality compared to old 10-rupee notes which were made using cotton substrate. So, plastic notes will, theoretically, last much longer and reduce losses for the Union Government.
Revamped 1000-Rupee Notes?
In case you remember, a few days ago rumors were aired that Reserve Bank of India is all set to introduce 1000-rupee currency notes back in market but with better and newer security features. Some people still think that this is going to happen by RBI actually openly rejected such claims. So, if you are still waiting for new 1000-rupee notes, you may simply be wasting your time.