In a recent development, Reserve Bank of India will issue the new Rs 200 denomination bank notes tomorrow, confirms Press release.
In a press release reads, “The Reserve Bank of India will issue on August 25, 2017, ₹ 200 denomination banknotes in the Mahatma Gandhi (New) Series, bearing the signature of Dr. Urjit R. Patel, Governor, 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”.
It was reported that the new Rs 200 note will certainly reduce the burden of small currency denomination notes like Rs 100 note.
RBI said in a statement, “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”.
Although, a new Rs 2,000 denomination notes were introduced last year to curb black money.