New Rs 200 currency notes to be issued by RBI from August 25

The Reserve Bank of India (RBI) will issue bright yellow-coloured new Rs 200 currency notes on August 25, the central bank said today.

“Introduction of a new currency denomination and design is done keeping in consideration various factors like ease of transactions for the common man, replacement of soiled banknotes, inflation and the need for combating counterfeiting,” the RBI said post the announcement.

“The Reserve Bank of India will issue on August 25, Rs 200 denomination banknotes in the Mahatma Gandhi (New) Series, bearing signature of Dr. Urjit R. Patel, RBI Governor,” RBI said in a release.

“The new denomination has Motif of Sanchi Stupa on the reverse. The base colour of the note is Bright Yellow. The note has other designs, geometric patterns aligning with the overall colour scheme, both at the obverse and reverse,” RBI said.

Post demonetisation in November 2016, RBI had introduced new Rs 500 notes and for the first time Rs 2,000 denomination notes. Reports have suggested that Rs 2000 notes will be gradually phased out.

Initially, the new Rs 200 note will not be available at ATM kiosks. Disbursing the note through ATMs will need recalibration. The notes, thus, will be disbursed through bank branches across the country, just like the Rs 10, Rs 20, Rs 50 and coins of other denominations.

CHECK: New design of Rs 50 banknote