RBI clears proposal to introduce Rs 200 notes likely to be released after centre's notification

RBI clears proposal to introduce Rs 200 notes likely to be released after centre's notification

The board of the Reserve Bank of India (RBI) has cleared a proposal to introduce banknotes of Rs 200 denomination, two people aware of the development said.

The decision was taken at the RBI board meeting in March, these people said. They didn't want to be identified as they aren't authorized to speak to the media.

The process of printing the new Rs 200 notes is likely to begin after June, once the government officially approves this new denomination, said one of the two people cited earlier.