India’s Central Bank Authority , Reserve Bank of India (RBI) has cleared a proposal to issue new Rs 200 currency bank notes according to a report.
When New Rs 200 Currency Bank Notes Printed ?
The proposal was cleared in board meeting last month. The printing process of new Rs. 200 bank notes is likely to begin after June this year, after the government officially approves the proposal.
However there is official notification or confirmation from the Central Bank authority about Rs 200 Currency Notes.
Earlier as your know, PM Narendra Modi announced demonetization of old Rs. 500 and Rs. 1000 bank notes on Nov 8,2016. New Bank notes of Rs. 2000 and redesigned Rs. 500 bank notes were introduced after demonetization.
The move to introduce lower denomination notes comes against the backdrop of the government’s move to rework the currency mix. The government is encouraging digital payments and may not increase currency in circulation to the pre-demonetization level.
On 13 March, RBI lifted all cash withdrawal caps. ATM operators, however, say that there is a paucity of lower denomination banknotes.
So far, the central bank has not revealed how many of the old currency notes it has got back from the public. The window for Indians who were out of the country between 8 November and 30 December ended on Friday.
The RBI board has 14 members. Apart from governor Urjit Patel and four deputy governors, the board also has economic affairs secretary Shaktikanta Das and financial services secretary Anjuly Chib Duggal.