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Rs 200 Notes to be Out Next Month, RBI Stops Printing Rs 2,000 Ones

The shortage of notes was triggered by the Union government’s decision to scrap currency of high denomination bills in November 2016.

News18.com

Updated:July 26, 2017, 1:41 PM IST
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Rs 200 Notes to be Out Next Month, RBI Stops Printing Rs 2,000 Ones
File photo of Reserve Bank of India building.
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Mumbai: The Reserve Bank of India (RBI) has stopped printing Rs 2,000 notes and has instead sped up the process of printing Rs 200 notes.

About 3.7 billion Rs 2000 notes amounting to Rs 7.4 trillion have been printed, Livemint reported citing a RBI source. “Of most of the printing that’s being done, about 90% is only Rs 500 notes. Nearly 14 billion new Rs 500 notes have been printed so far,” the source said.

The report said the new Rs 200 are expected to be circulated by next month.

The Rs 200 notes are expected to address the shortage of high high denomination notes in the country. “Initially, around a billion Rs 200 notes are expected to hit the market,” the RBI source added.

The shortage of notes was triggered by the Union government’s decision to scrap currency of high denomination bills in November 2016.

Prime Minister Narendra Modi, in a surprise move, had announced scrapping of old notes of Rs 1,000 and Rs 500 notes.
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