The RBI on Thursday announced that it will launch the new Rs 200 notes on Friday which will make it easier for consumers to carry out transactions as there was a troublesome shortage of smaller denomination currency in the system.
The bright yellow coloured notes will hit the market just on the second day after the announcement by Finance Minister Arun Jaitley that the government has given go-ahead to the RBI to issue the new currency bill. The Reserve Bank of India will issue on August 25, 2017 Rs 200 denomination banknotes in the Mahatma Gandhi (new) Series, bearing signature of Urjit R Patel, Governor, Reserve Bank of India from select RBI offices, and some banks, RBI said in a press release.
As per new policy on theme-based currency notes, this currency notes bears motif of Sanchi Stupa, to depict India's cultural heritage. The base colour of the note is bright yellow, RBI said. Among other prominent features, the banknote will carry portrait of Mahatma Gandhi at the centre and the denominational numeral 200 with rupee symbol in colour changing ink -- green to blue -- on the bottom right on the obverse (front) side of the note, RBI said.
For visually impaired, the front side of the note will have intaglio or raised printing of Mahatma Gandhi portrait, Ashoka Pillar emblem, raised identification mark 'H' with micro-text Rs 200, four angular bleed lines with two circles in between the lines both on the right and left sides. The reverse side of the note will carry a Swachh Bharat logo with slogan and the Sanchi Stupa motif, RBI said. The new note will be in a dimension of 66mmX146mm.
Soon after Prime Minister Narendra Modi announced demonetisation in November last year, the idea of Rs 200 note was taken up as it became inconvenient for public to handle cash transactions with high value currency note of Rs 2,000.
Finance Minister Arun Jaitley on Wednesday put all the rumours regarding demonetisation of Rs 2,000 notes to rest, saying that the government is not considering banning Rs 2,000 notes. Jaitley had also said the government has given its go-ahead to the RBI to issue Rs 200 notes.