200 rupees notes printing started by RBI
Soon you’ll see a 200 rupees currency note in market. For the first time Rs.200 note will be introduced. RBI has cleared the proposal and placed order for printing of new 200 rupees notes. These notes will be printed in one of the Government owned facility.
The new denomination note of 200 is being introduced to ease up the day to day transactions of comman man.
This is the part of remonetisation excercise of government and RBI after demonetisation of old notes of Rs.500 and 1000. This will increase the currency in circulation.
Before demonetisation announced by Government of India i.e., 8th November 2016, currency in circulation was Rs.17.90 lac crores. Due to demonetisation 86% of currency notes (500 and 1000) went out of circulation.
As on 9th June 2017 around 14.60 lac crores of currency is in circulation. These new 200 rupee notes will replenish a part of the gap.
Although it was expected that in order to give digital means of payment a boost, Government will keep the currency in circulation tight, but that doesn’t seems the case.
Since there is only small gap between the currency in circulation pre demonetisation period and post demonetisation, which will also be filled by thsese new notes, Government doesn’t seems to head towards a cashless economy.
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