Reserve Bank of India could issue Rs 200 notes after June: reports

The Reserve Bank of India has cleared a proposal to issue Rs 200 notes, according to reports. In fact, the printing of Rs 200 notes could begin after June.

The Live Mint on Tuesday reported that the RBI board meeting happened in March where the central bank decided to go ahead with the new notes.

However, there has be no official confirmation from the RBI so far.

According to a report by India Today, the new note is already in the pipeline and is only awaiting instructions from the central government to go ahead with the printing procedure.

"Rs 200 currency note is in the pipeline. But, unless it is notified by the central government, making a dye (block), working on security features and printing process of Rs 200 would not take place. So this time, RBI would implement its plan only after the Centre's notification," a source told India Today. The source also suggested that the government is planning to issue new Rs 1000 note.

The demonetisation drive that started after Prime Minister Modi's November 8 speech, has so far witnessed the introduction of two new notes in the Indian currency - Rs 500 and Rs 1000. These new notes are made according to international standards and also have enhanced security features to discourage duplication.

Furthermore, to check counterfeiting, some reports suggest the government plans to change security features of higher denomination banknotes of Rs 2,000 and Rs 500 every 3-4 years in a bid to fight fake currency problem.

Source: BT online

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