New Delhi: Again Good time comes as our wallet is going to full of new 200 notes. After Rs 2000 notes, get ready for Rs 200 note in your wallet. Top level sources from the North Block have confirmed to India Today that the Reserve Bank of India will be releasing the new lower denomination note as soon as next month.
“We have already started printing of the first batch of 200 rupee note in June. It takes 21 days for the printing process to complete. So we are on track to meet the deadline to introduce 200 rupee note by next month,” said a top level source who is part of the Investment and Currency department of the government.
Interestingly, latest RBI data suggests that out of Rs 15 lakh worth of currency taken out of circulation almost Rs 14.5 lakh crore is back in circulation as of June this year. But as per an SBI report, cash with banks has declined to 5.4 per cent of the currency in circulation from 23.19 per cent pre-demonetisation. With 200 notes pumped in the system, the cash reservoir will be boosted.
“We are operating full capacity for 500 rupee note production. When 200 rupee note will be introduced it will ease out currency availability,” said top official from finance ministry.It was in March when the finance ministry took the decision to print the lower denomination 200 rupee notes. Currently, two RBI printing press under Bharatiya Reserve Bank Note Mudran Private Limited from Mysuru and Salboni are printing it.
The Reserve Bank of India (RBI) stopped printing Rs 2000 notes about five months ago and is unlikely to print more in the current financial year, said people aware of the development. The central bank, however, has stepped up the printing of other denominations, including new Rs 200 notes, the people added on condition of anonymity.
About 3.7 billion Rs 2000 notes amounting to Rs 7.4 trillion have been printed, said one of the people cited above. That more than compensates for the 6.3 billion Rs 1000 notes that were withdrawn after Prime Minister Narendra Modi’s demonetisation move on 8 November 2016.