The central bank has started printing bills of Rs 200 notes and Rs 200 currency note will be out soon in our hands. The currency notes of Rs 200 are printing in one of the government-owned facilities and it started printing after the Reserve Bank Of India gave an order a few weeks ago for the bills. Presently, these notes are going at different levels of security and quality checks at Hoshangabad in Madhya Pradesh at the government’s press unit.
The introduction of the Rs-200 currency notes predates the federal government’s decision to overnight withdraw bills of the higher denomination in November as part of a broader exercise to stop counterfeiting and curbing untaxed cash in Asia’s third-biggest economy and for the ease of operations for day-to-day transaction purposes.
Earlier the Reserve Bank Of India had cleared the proposal to issue the currency notes of Rs 200. The government had also investigated the introduction of the new notes which will help the citizens to transact easily. According to the data from the State Bank Of India research, before the demonetization of 8th November, roughly there were 1,650 crore pieces of Rs 500 notes in circulation and at the time of demonization, they ordered a withdrawal of the existing Rs 500 and Rs 1,000 notes. This accounted for 86% of currency in circulation of Rs 17.9 Lakh crore.