In a bit to relax Indians after demonetization, the printing of the Rs 200 notes has started. The orders to print the Rs 200 note was placed by the Reserve Bank of India, two weeks back.
Following the November 8 decision on demonetisation, the Rs 500 and 1,000 notes were withdrawn. This accounted for 86 per cent of the currency worth Rs 17.9 lakh crore. The currency circulation with the public was at Rs 14.6 lakh crore as on June 9. This is still 18.4 per cent lower than the pre-demonetisation level. Currently there are different levels of checks being undertaken to ensure that the new Rs 200 note is safe from counterfeiting.
“For day-to-day transaction purposes, the introduction of 200 rupee notes will add to the ease of operations,” said Soumya Kanti Ghosh, group chief economist at the SBI Group.
The introduction of the Rs-200 currency notes predates the federal government’s decision to overnight withdraw bills of higher denomination in November as part of a broader exercise to stop counterfeiting and curbing untaxed cash in Asia’s third-biggest economy.
The RBI board had earlier cleared the proposal to issue banknotes of Rs 200 denomination. The government, too, had examined the introduction of the new notes that would help citizens transact easily.
The printing of currency notes is done either in printing units run by the government-run Security Printing and Minting Corporation of India Ltd or at printing presses in Mysore (Karnataka) and Salboni (West Bengal), managed by the RBI-owned Bharatiya Reserve Bank Note Mudran Private Ltd.
superr… so now another demonetization is happening…:-)