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When will the new Rs. 200 note be available?

RBI issues Rs. 200 banknote
24 Aug 2017
  • The Reserve Bank of India (RBI) said in a statement that it's releasing the first-ever Rs. 200 denomination banknote on 25th August.
  • The note, belonging to the Mahatma Gandhi (New) Series, is aimed at addressing the ongoing shortfall of small currency denomination notes and reduce the post-demonetization burden on the Rs. 100 note.

  • Why was it introduced?
  • The government feels that with introduction of new Rs. 200 note, it will help bridge the gap between the already currency notes in use.
  • It is also of the view that lower denomination notes aids government's efforts at realigning currency mix in the system.
  • The government also thinks it will prevent counterfeiting, hence the new denomination is going through different levels of security checks.

  • When will the new Rs. 200 note be available?
    03 Sep 2017
  • Reportedly, it's going to take as long as three months for the ATMs to start dispensing 200-rupee notes, which the RBI has launched a week ago.
  • It's because the new denomination currency requires a huge exercise of recalibration.
  • Although they are yet to receive supplies of this new currency, some banks have instructed ATM firms to begin the recalibration process.
  • Here's more.

  • No directive yet
  • RBI recently informed that it intends to ramp up the supply of the new Rs. 200 notes.
  • However, the time-frame, by which the currency notes would be available in the market in adequate numbers, has not been disclosed.
  • ATM manufacturing firms said that no RBI directive has been given as of yet, but banks have been asked, on an informal level, to start the process.

  • This post first appeared on NewsBytes: Latest News, Breaking News India, Today News, Current News, please read the originial post: here

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    When will the new Rs. 200 note be available?


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