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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.
(Get detailed and live results of each and every seat in the Lok Sabha elections and state Assembly elections in Andhra Pradesh, Odisha, Arunachal Pradesh and Sikkim to know which candidate/party is leading or trailing and to know who has won and who has lost and by what margin. Our one-of-its-kind Election Analytics Centre lets you don a psephologist’s hat and turn into an election expert. Know interesting facts and trivia about the elections and see our informative graphics. Elections = News18)
| Edited by: Swati Sharma
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