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First time in history : RBI to unveil Rs 200 currency notes in September

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Rs-200-currencyIt’s raining new currency notes in the country.After Rs 2000, Rs 500, Rs 50 and Rs 20, the Reserve Bank of India (RBI) is all set to introduce Rs 200 currency notes for the first time in history. The launch is scheduled for the first week of September.

Reportedly, the launch has been planned to curb the rising menace of illegal trade of currency notes.

According to the sources, the central bank is working hard to eliminate black marketing and is compiling a stack of about 50 crore notes of the new denomination to avoid any scarcity or possibility of illegal trade.

“There is no other denomination available between Rs 100 and Rs 500 and RBI is expecting Rs 200 notes to become very popular and that’s why it is taking every step to ensure availability of it,” the source said.

As per the latest developments, the apex body has been notified about the illegal hoarding of the Rs 2000 bank notes and black marketing.  The motive behind the introduction of  Rs 200 currency notes is curb counterfeiting.

While banknotes of Rs 2000 and Rs 500 were launched during the demonetisation drive, RBI has recently announced the launch of Rs 50.

The launch of Rs 20 currency notes is also doing rounds in media.

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