(Source: RBI Press Release)

RBI Launches Rs 200 Notes; Promises To Ramp Up Supply

The Reserve Bank of India (RBI) on Friday launched the bright yellow Rs 200 notes and said it will shortly ramp up the supply of the new currency note across the country.

Long queues of people were witnessed at RBI offices to get the new Rs 200 currency note that has been introduced for the first time by the central bank.

The RBI has launched the lower-denomination currency note with an aim to make it easier for citizens to transact in lower-denomination currencies. These notes are available only through "select RBI offices and banks as is normal when a new denomination of notes is introduced and the supply increases gradually", the RBI said in a press release.

The production of these notes is being "ramped up by the currency printing presses, and over time as more notes are printed, it will be distributed across the country through the banking channels and will be available for public in adequate quantity", the release said.

Following the demonetisation of Rs 1,000 and Rs 500 notes last November, the central bank had introduced Rs 2,000 notes and new Rs 500 notes.

As per the new policy on theme-based currency notes, the Rs 200 bill bears motif of Sanchi Stupa to depict India's cultural heritage.

The RBI had said that Rs 200 note will provide the "missing link" and ensure optimal mix of currency denominations. Prior to the introduction on the new notes, India has currency denominations of Rs 1, 2, 5, 10, 20, 50, 100, 500 and 2000. As such, in the lower end of the denomination series, Rs 200 has been the missing link.

The RBI had recently introduced Rs 50 note with a new look and additional security features.

Earlier this month, Finance Minister Arun Jaitley had said that the government is not considering banning Rs 2,000 notes.