The RBI on Thursday announced that it would issue rupees 200 note on Friday that is on 25th August.
Introduction of a new currency demonetization and design is done keeping in consideration various factors like ease of transaction for common man, replacement of soiled banknotes, inflation and the need for the combating counterfeiting” the RBI said.
Why has RBI issued the new rupees 200 note?
The government classified that the introduction of rupees 200 will not going to diminish any other currency. People had a fear in their minds that the introduction of rupees 200 will phase out the rupees 2000 note but clarification has made and there are no such plans right now. It is the first time in the history for rupees 200 note to be introduced in the market by RBI. The design and appearance of the new note is amazing and people who have these new currency liked it a lot.
There are some issues in the market right now as there is a shortage of 100 rupee notes and it’s tough to get change of 2000 rupees. The introduction of new 200 rupee currency note will definitely ease things a bit and there will be no problem in purchasing and selling of the goods.
It will not be available in the ATMs right away since the length of the new 200 currency is different from the existing currency in circulation (100,500,2000) and calibration is required to be done. ATM manufacturers need to do a complete testing of the new 200 demonetization currency and provide the parameters.
According to SBI estimates, in the pre-demonetization period, 87% of the currency in circulation constituted of high denomination notes and it was the masterstroke against Black money by Prime Minister Modi. People’s review about the new 200 rupees note is positive.
It will facilitate transactions and getting change for rupees 2000 would be easier. It will help people to withdraw money from ATMs with ease. What do you think of this new move of bringing 200 rupee notes by RBI? Do let us know in the comment section.