RBI to issue Rs 200 denomination banknote tomorrow; says it will facilitate ease of transactions

Mumbai, Aug 24 (KNN) The Reserve Bank of India (RBI) will tomorrow issue Rs 200 denomination banknotes in the Mahatma Gandhi (New) Series, bearing signature of Dr. Urjit R. Patel, RBI Governor.

The new notes will be issued from Reserve Bank of India from select RBI offices, and some banks.

The new denomination has Motif of Sanchi Stupa on the reverse, depicting the country’s cultural heritage. The base colour of the note is Bright Yellow. The note has other designs, geometric patterns aligning with the overall colour scheme, both at the obverse and reverse.

RBI said, “Introduction of a new currency denomination and design is done keeping in consideration various factors like ease of transactions for the common man, replacement of soiled banknotes, inflation and the need for combating counterfeiting.”

RBI said the new 200 denomination notes will help in ease of facilitating exchange.

“To achieve the optimal system of currency that would minimize the number of denominations while increasing the probability of proffering exact change, especially at the lower end of denominations, there is a logical need to introduce the missing denomination of Rs 200, which will make the present currency system more efficient,” said RBI.

Provision of the new denomination, therefore, would facilitate exchange, particularly for the common man who deals with denominations at the lower end, the apex bank added. (KNN Bureau)