RBI places printing order for Rs 200 notes

New Delhi: The Reserve Bank of India will introduce Rs 200 notes, the printing order of which has been placed, as per a news agency source.

News agency ANI has tweeted:

RBI to introduce Rs. 200 notes, printing order has been placed: Sources pic.twitter.com/YKASOFu99J

— ANI (@ANI_news) July 4, 2017

The decision to introduce Rs 200 notes was taken by the RBI with the consultation of Finance Ministry in March.

Soon a notification may be issued by the Reserve Bank of India on the same.

This exercise of printing Rs 200 denomination notes is being undertaken to further improve the currency situation in the country.

Almost eight months after Prime Minister Narendra Modi announced demonetisation of Rs 500 and Rs 1,000 (now old) notes,  the RBI has started printing notes of Rs 200 denomination.

It is the first time that the RBI is printing bills of 200 rupees.

The Central government had on November 8 last year announced that Rs 500 and Rs 1,000 notes would no longer be legal tender from November 9.

The government also assured the people that demonetised currency notes could be exchanged at banks, post offices and RBI branches till December 30, 2016.

If people were unable to deposit them by that day, they could do so till March 31, 2017 at RBI branches after complying with certain formalities.

With Agency Inputs