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New Currency coming soon: Printing started of Rs. 200 notes

Home / New Currency coming soon: Printing started of Rs. 200 notes
  Jun 29, 2017     Chirag Malaviya  

The report cited a senior bank official who said administering new money notes through ATMs would mean recalibrating India's 220,000 machines, an activity that will take over a month.

The RBI needs to stay away from the recalibration procedure as it wouldn't like to see the same furious circumstance it confronted after demonetization.

A year ago in November, when the Prime Minister demonetized old Rs 500 and Rs 1,000 notes, the RBI took over a month to align 2 Lakh ATMs to administer recently stamped Rs 500 and Rs 2,000 notes.

"The thought is not to irritate the framework at the end of the day, there has been interruption for over four weeks amongst November and December and it is fitting to circle these notes through the bank offices, however at show these are simply proposition," the authority said.

As indicated by reports, the RBI needs to circle Rs 200 monetary certificates just through branch, the way Rs 50 and Rs 10 notes are flowed.

Prior in March, the national bank board had cleared a proposition to acquaint Rs 200 notes with limit the deficiency of lower sections.

As per a report by India Today, the new note is as of now in the pipeline and is just anticipating guidelines from the focal government to proceed with the printing technique.

"Rs 200 money note is in the pipeline. In any case, unless it is advised by the focal government, making a color (square), dealing with security elements and printing procedure of Rs 200 would not happen. So this time, RBI would actualize its arrangement simply after the Center's warning," a source revealed to India Today.

The Reserve Bank of India (RBI) has begun with the printing of Rs. 200 cash notes in an offered to accelerate the pace of remonetisation.

The RBI has likewise added a few propelled security elements to the new Rs. 200 note to avert duplicating.

The proposition for the new group was first given by RBI to which the legislature gave a green flag later.

Chirag Malaviya
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