New Rs. 200 notes to be available in August-September!

Asia

If reports are to be believed, Rs. 200 notes will hit the market as soon as August end or September first.

To prevent shortage of currency or illegal trade, it is apparently stocking Rs. 50cr in the new denomination notes.

Along with increasing smaller-denomination notes in circulation, Rs. 200 notes will also "facilitate cash usage from a transaction motive perspective", a source said.

How the Rs. 200 note will help masses?

The emergence of the new currency denomination will help in the day-to-day consumer transactions. With a smaller denomination in hand, it will ease the problem of dealing with everyday business of the common masses.

Howdoes the Government look at this?

How does the Government look at this?

The government feels that with introduction of new Rs. 200 note, it will help bridge the gap between the already currency notes in use.

It is also of the view that lower denomination notes aids government's efforts at realigning currency mix in the system.

The government also thinks it will prevent counterfeiting, hence the new denomination is going through different levels of security checks.

Demonetization: The before and after figures in circulation

On November 8, 2016, the government had asked for withdrawal of old Rs. 500, Rs. 1000 notes which accounted for currency in circulation of Rs. 17.9 lakh crore. With nearly six months after demonetization, currency circulation with public is still at Rs. 14.6 lakh crore.

Source: newsbytesapp