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Thursday, June 29, 2017

Printing of 200 rupees' notes begins

Given the problems faced by the people by the government's decision to close the note of 1000 rupees, the preparation of a new note of 200 rupees is ready and is expected to hit the market before long. The Reserve Bank has also started printing of 200 rupees’ notes.

The notification for issuing a new note of 200 was issued in July. But now there may be some delay in this. The Reserve Bank of India told a newspaper that a few weeks earlier, orders have been issued to start printing of new notes. After this, printing of these notes has been started in the Government Printing Press.

Importantly, the Narendra Modi government had announced a ban on November 8 last year, under which old notes of 500 and 1000 were declared not valid. In place of these notes, the newer notes of rupees 500 were printed and 2000 notes also came in. The note of 1000 rupees was completely closed.

According to the State Bank of India Research, on November 8, the number of notes in the country was Rs 1,650 crore at the time of the cancellation. After the removal of these notes, there was a huge difference in the number of circular notes in the market.

Soumya Kanti Ghosh, who worked as a Group Chief Economist in SBI, said, "It will be easier to get work done by bringing 200 rupees notes for the purpose of daily transactions." He said, "A portion of the notes which have been withdrawn in the note-bank have been paid by the notes of Rs 2,000, while notes of Rs 500 have largely worked to fulfill this shortage. But that was not enough. ' He said that after issuance of 200 rupees notes, relief will be given to the small currency crisis whose shortcomings have been feelt since the closure of 500 rupees old notes.

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