Modi gave a BIG SHOCK to the nation by demonetizing Rs 500 and Rs 1000 notes; later, new Rs 500 and Rs 2000 notes were introduced, but the process was characterized by loads of hassles.
Things have been streamlined now, with the withdrawal of all sorts of limits (Cash deposits and ATMs). Forget all that; RBI now has a surprise for you.
There are many reports which state that RBI has approved the proposal of introducing Rs 200 denomination notes.
This proposal was put forth in a meeting in March, but that time, no one had the authority to communicate the same to media.
Official approval from the government is still pending, but once the proposal is cleared, the printing of these notes will start immediately.
Another source said that unless the Central government gives a green signal, the department won’t be able to work on the security features, dye (Block) or printing processes.
If the approvals are smooth, the process of printing is likely to begin from the month of June. There are also speculations that RBI might introduce new Rs 10, Rs 50, Rs 100 and Rs 1000 notes. Let’s see what happens.
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