200rs Notes Coming Soon: RBI Ordered To Print New Looking Notes

RBI has decided to introduce Rs 200 notes was taken by the central bank after consultation with the Finance Ministry in March,started introducing new high value notes in the banking system after nearly 86 per cent of the total currency in circulation was scrapped through demonetisation on November 8, 2016 - a massive anti-black money and taken by Prime Minister government.

As per the data obtained from a State Bank of India research, there were roughly 1,650 crore banknotes of Rs 500 denomination in circulation. The overnight withdrawal of these notes created a gaping void in the cycle of note circulation.

This move highlights the government's efforts at pumping in lower denomination notes in the system, especially since low denomination notes dominate everyday transactions in India.