The Reserve Bank of India has cleared a proposal to introduce a new Rs 200 note. In fact, the printing of Rs 200 notes could begin after June. If done, then it would be the third series of new notes after the demonetisation, the new Rs 500 and Rs 2000 notes.
Live Mint reported this year in March, RBI Board had cleared a proposal to introduce the new Rs 200 note and it is now waiting for the government’s clearance. The Mint report added that the printing of the note will begin soon, however, there is no official confirmation.
According to India Today, the new Rs 200 note is in the pipeline. A source told India Today, “Rs 200 currency note is in the pipeline. But, unless it is notified by the central government, making a dye (block), working on security features and printing process of Rs 200 would not take place. So this time, RBI would implement its plan only after the Centre’s notification.”
The source also mentioned that the government is planning to issue a new Rs 1000 note.
But RBI Deputy Governor NS Vishwanathan at a recent event in Kumbakonam, Tamil Nadu said, “Presently RBI has no idea to introduce currencies of new denominations. The central banking institution wants to encourage cashless transactions, which are helpful to the people.”
After Prime Minister Narendra Modi’s demonetisation move on November 8, the new notes are made according to international standards and it also has improved security features to stop duplication.
Some reports proposed the government plans to change security features of higher currency notes of Rs 500 and Rs 2000 every 3-4 years to fight fake currency.