Rs 200 Note Information: The Reserve Bank of India (RBI) is all set to introduce the new RS 200 note in the Indian economy. This has come into the effect as RBI has decided to stop the printing of Rs 2,000 notes. On 26th July during the parliament session, when opposition asked, union finance minister, Arun Jaitley that whether the government is planning to scrap/remove Rs 2,000 notes he didn’t answer to the opposition on this. With the news confirmed about the introduction of new rs 200 notes, many are questioning that did the idea of demonetisation has failed? Each and every person has their own perception over this. Below we will highlight the conditions which led The Reserve Bank of India (RBI) to introduce the 200 rs note in the market.
Need of Rs 200 note
Rs 200o note was introduced to temporary fulfill the sudden cash crunches which would happen after the 8th November 2016 demonetization. It was easy for the government and the RBI to introduce a large amount of money in a short time by printing big currency note instead of printing small currency note like Rs 100 or Rs 500.
But, the Rs 2,000 notes never really helped the common man for daily transactions as there wasn’t enough change available in the market. This is the main reason that the Rs 2000 note has been stopped printed as it was not of a much help to common man. To overcome the shortage of the cash flow in the market and keeping the necessity of a common man, RBI decided to introduce Rs 200 note.
Advantages of Rs 200 Note
- The biggest advantage of the new RS 200 notes will be for a common man. For a common man, 75-80 % of all his transactions are done through cash. It was very difficult to get the change of the RS 2000 note but with the new Rs 200 note, the cash flow will be more smooth for a common man.
- We know that if a big currency note is circulating in the market then fake note businesses and illegal cash can damage the economy to a great extent. It was easier for illegal cash holder and supplier to circulate the money in the market as big amount can be carried easily in Rs 2000 notes. But once a RS 200 note will be launched it would be difficult for the illegal cash dealers to supply the money in the market.
- Global study shows that if an economy was to keep its cash flow transparent then they have to bring down the High denomination cash component. According to most of the econo9mist of the world, most of the illegal cash transactions happen due to High-value cash denominations. With lower denomination components, the cash flow will be more transparent, helping the government to find the fraud cases & tax cheaters easily.
Launch date of RS 200 Note
According to the reliable sources of The Reserve Bank of India (RBI), RS 20o note is expected to launch on 15th August. It would be available in every part of the country in 30 days of its launch. The programming to dispatch the new RS 200 note has been started in all the ATM’s through out the country.
Expected size of RS 200 Note
Nothing has been officially said by the The Reserve Bank of India (RBI) as of now but the size is expected to be same or a bit bigger than RS 500 note.
By this Upcoming Independence Day, you will be able to see the new RS 200 note.