The Union government on Wednesday confirmed that a new Rs 200 note will be issued by the Reserve Bank of India. While no immediate date was made known, the new denomination could well hit ATMs and banks as early as next week.
“In exercise of the powers conferred by sub-section (1) of section 24 of the Reserve Bank of India Act, 1934 and on the recommendations of the Central Board of Directors of the Reserve Bank of India, the Central Government hereby specifies the denomination of bank notes of the value of two hundred rupees,” an official government notification said.
Last month, images of the new denomination note hit social media with several looking for a confirmation. Along with the new Rs 200 note, the government has also confirmed a new Rs 50 note. The earlier Rs 50 notes will continue to remain legal tender.
The new Rs 200 note will help in day-to-day transactions and will replenish the reduction in Rs 500 notes following the demonetization move by the Union government on November 8 last year.
“The new 200 notes will carry advanced security features. The authorities are taking extra precaution to prevent counterfeiting,” an official aware of the printing schedule had said.