Rs 200 note to be out soon, Rs 2,000 to stay

Tribune News Service

New Delhi, August 23

A new denomination of currency notes — Rs 200 — will soon be in your wallet as the government today notified its introduction. 

The Finance Ministry, in a notification, said on the recommendations of the Central Board of Directors of the RBI, “the Central Government hereby specifies the denomination of banknotes of the value of two hundred rupees”.

Subhash Chandra Garg, Secretary, Economic Affairs, tweeted, “Govt has today specified denomination of bank note of Rs 200 value. Soon this note will get added to the bucket of currency notes in India.” The new note would bridge the gap with the larger Rs 2,000 and Rs 500 notes and help to improve the flow of currency.

Finance Minister Arun Jaitley today said the government was not considering banning Rs 2,000 notes, and the Reserve Bank would decide on the timing of issuing the new Rs 200 bill.

“The RBI will take care of when the notes will be printed. Thus, it would be appropriate for the RBI to announce the dates and related matters,” said Jaitley.

On whether the government was considering phasing out Rs 2,000 notes, he said: “No, there was no such discussion.”