New Rs. 200 notes entered the banking system today. The bright yellow coloured Rs. 200 notes was launched just a day after the finance minister gave go-ahead to the Reserve Bank of India or RBI to issue the new currency bill.
This is the fourth new note to be announced since November, when the Narendra Modi government announced a ban on Rs. 1,000 and Rs. 500 notes to choke tax evaders. Following the demonetisation of Rs. 1,000 and Rs. 500 notes last November, the central bank had introduced Rs. 2,000 notes and new Rs. 500 notes. The phasing out of the high-value notes led to severe cash shortage in the economy and put pressure on low value notes.
As per the new policy on theme-based currency notes, the Rs. 200 bill bears motif of Sanchi Stupa to depict India's cultural heritage. India has currency denominations of Rs. 1, 2, 5, 10, 20, 50, 100, 500 and 2,000. As such, in the lower end of the denomination series, Rs. 200 has been the missing link. The RBI had recently introduced Rs. 50 note with a new look and additional security features.
