RBI likely to release Rs 200 note next month

The RBI's Mysuru printing press has started printing Rs 200 India Tv

The RBI's Mysuru printing press has started printing Rs 200 India Tv

The central bank had reportedly made a decision to bring in Rs 200 notes in March after consulting the finance ministry, they said.

The Reserve Bank of India has stopped printing Rs 2000 notes.

Meanwhile, the RBI has stopped printing Rs 2,000 notes for past five months, and may not undertake any further printing in the current financial year, the Mint report said.

The report had also quoted an SBI official as saying that the bank was receiving Rs 500 notes from the RBI as high-value currency and RS 2,000 notes were coming through counters by way of recirculation.

The majority of new notes printed are of low denomination now.

As an equilibrium has been reached regarding the old state of currency and the new state, RBI has now focussed all energies into printing Rs 200 currency note, which will help to fill the gap between Rs 2000 and Rs 500.

The central bank had reportedly chose to bring in Rs 200 notes in March after consulting the finance ministry, they said.

Where does this leave with if you have Rs 2000 notes?

.

Besides, an ATM machine typically holds 10,000 bills and if these were to comprise, say, only Rs 100 notes, the number and cost of replenishment would go up significantly.

In a surprise announcement, Prime Minister Narendra Modi announced scrapping of old notes of Rs 1,000 and Rs 500 notes a year ago, wiping out over 85 percent of the cash in circulation. Currently, two RBI printing press under Bharatiya Reserve Bank Note Mudran Private Limited from Mysuru and Salboni are busy completing the printing formalities. This is about 86% of the Rs 17.7 trillion that was in circulation on 4 November.

The Economic Times had on July 20 reported on the shortage of currency notes being felt in parts of the country.

"Although we haven't see any drop in supply of Rs 2000 notes, we expect it to be moved out of ATMs once Rs 200 notes hit the market", said Radha Rama Dorai, country head, ATM and allied services, at ATM service provider FIS.

Currently, two RBI printing press under Bharatiya Reserve Bank Note Mudran Private Limited from Mysuru and Salboni are printing it. Buzz is that the government is also preparing the gradual decline of 2000 rupee currency note which was introduced a year ago.

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