Delhi, August 26, 2017: The Reserve Bank of India has launched new notes of Rs 200 on Aug 25.
Chief Economic Advisor for the State Bank of India group, Soumya Kanti Ghosh, called the new notes a "missing middle."
This will be the first time the country sees the Rs. 200 denomination. This decision of the RBI comes as a solution to reduce the burden on Rs 100 notes and to face liquidity issues.
The note will come with a picture of the Father of the Nation, Mahatma Gandhi, and will bear the signature of RBI Governor, Dr. Urjit R. Patel.
Additionally, the Sanchi Stupa Motif is at the back side of the note. The color of the note is bright yellow. The new notes will measure 66 mm x 146 mm.
Initially, the new notes will not be available at the ATM Kiosks but can only be found at some banks and RBI offices.
When India demonetized in 2016, the response was the issue of new Rs 500 and Rs 2000 notes. Rs 100 note then follows.
People faced trouble when the Rs 2000 note had to be broken down. The issue of new Rs 200 notes seeks to solve this problem. It will also help the currency system become drastically more efficient. Smoother exchange of transactions will also be facilitated through this step.
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