Economy

RBI introduces ₹200 note

The image a ₹ 200 denomination banknotes introduced by the RBI.

The image a ₹ 200 denomination banknotes introduced by the RBI.   | Photo Credit: RBI

The Reserve Bank of India on Thursday introduced the ₹200 banknote — a move that will ease cash transaction.

"To achieve the optimal system of currency that would minimize the number of denominations while increasing the probability of proffering exact change, especially at the lower end of denominations, there is a logical need to introduce the missing denomination of ₹ 200, which will make the present currency system more efficient," RBI said.

This is the second new denomination banknote introduced since the demonetisation exercise in November. ₹2000 denomination banknote was pumped into the system in November.

"Provision of the new denomination, therefore, would facilitate exchange, particularly for the common man who deals with denominations at the lower end," RBI added.

Recommended for you
This article is closed for comments.
Please Email the Editor

Printable version | Aug 13, 2020 8:36:20 PM | https://www.thehindu.com/business/Economy/rbi-introduces-200-note/article19551915.ece

Next Story