In a bid to rework the currency mix, Reserve Bank of India (RBI) is planning to bring out 200 Notes. RBI reportedly has cleared a proposal to introduce banknotes of Rs 200 denomination. The Board meeting in March has taken the decision.
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The printing of these notes will begin after June. The file is currently pending with the government which should officially approve this new denomination. The current government already introduced new 500 and 2000 notes after the historical decision of Demonetization on November 8th last year.
This introduction gives rise to the speculations that RBI will phase out the 2000 Note by replacing the value with lower denomination notes which will make black money hoarding difficult. On the other side, NRIs will only have the chance to exchange the demonetized 500 and 1000 Notes until June 30th.
