₹200 notes are coming soon | Fusion - WeRIndia

₹200 notes are coming soon

₹200 notes are coming soon

New notes worth ₹200 will be expected to be introduced in the upcoming months by the Reserve Bank of India.

Although the exact dates are not known at this time, the notes will certainly be released before the end of this year.

They will help relieve the demand for larger currency notes, after the government’s demonetization of the ₹500 and ₹1,000 notes in November of last year.

However, the Reserve Bank also made the announcement that they have no current plan to introduce the ₹1,000 notes back into the market, but the ₹200 note should narrow the current supply gap.

The Reserve Bank will soon be giving notice for issuing and printing the new ₹200 notes.

The release of these notes will boost the current state of currency in the country, with a large gap between the lower denomination notes and the ₹2,000 notes.

This action was undertaken by the central bank after the situation of the currency of the country was reported by the finance ministry.

Before they are released to the market, the ₹200 notes will be checked over by the government to ensure complete safety and quality.

The demonetization of the ₹500 and ₹1,000 notes were done to eliminate black money from the market and force any people with it to pay necessary taxes.

Now, hopefully, with the Indian market cleaner, the introduction of the ₹200 notes will begin to fill the gap that was created by the removal of 85% of the country’s currency.

Starting with these new ₹200 notes, the currency gap will continue to be filled in the future by introducing clean money back into the market, which will eventually provide a much more stable and more prosperous economy for the country.

Image Credit: Rajeshr20500 / CC BY-SA 3.0, via Wikimedia Commons

Image Reference: https://commons.wikimedia.org/wiki/File:Indian_Note_200.jpg

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