Govt. Set To Introduce New Rs. 200 Currency Notes; New Rs. 50 Makes An Appearance Online

For the first time in history of India, currency denomination of Rs 200 is going to be introduced, a development which has been confirmed by Ministry of Finance. By late August or most probably early September, the new Rs. 200 currency notes will start appearing in banks and ATMs.

Besides, newer details of Rs 50 currency note have also emerged, along with images of the same.

After demonetization kicked in last year in November, new Rs 2000 and Rs 500 notes were introduced in the market. Hence, within a year, 4 new currency notes have been introduced, out of which two (Rs 2000 and Rs 200) have been introduced for the first time.

New Rs. 200 Currency Notes: It’s Official Now

In a notification, Ministry of Finance said, “In exercise of the powers conferred by sub-section (1) of section 24 of the Reserve Bank of India Act, 1934 and on the recommendations of the Central Board of Directors of the Reserve Bank of India, the Central Government hereby specifies the denomination of bank notes of the value of two hundred rupees”

In order to stop black marketing and hoarding of these new currency notes, strict measures are being executed, which includes close monitoring of the release, and usage. Besides, Govt. is making sure that the notes are equally distributed, and everyone is able to use it.

An unnamed official said, “There is no other denomination available between Rs 100 and Rs 500 and RBI is expecting Rs 200 notes to become very popular and that’s why it is taking every step to ensure availability of it”

We had earlier reported that Govt. has stopped printing new Rs 2000 notes, and the focus is now entirely on Rs 200 currency notes, which will drastically ease the burden on Rs 500 and Rs 100 notes.

Besides, some reports also claimed that distribution channel of new Rs 200 notes won’t be ATMs, but only bank branches. There has been no confirmation on this aspect. But yes, the new Rs 200 notes would be empowered with advanced security features to stop counterfeiting.

Details Emerge Of Rs 50 Currency Notes

Meanwhile, since last week, drip by drip details are emerging of the new Rs 50 currency notes, which may be introduced with Rs 200 currency note; although no official statement or notification has been issued.

Last year, RBI had declared that new Rs 50 and Rs 20 notes would be introduced, and had emphasized that old denominations of these currencies won’t be expired, and both the versions would exist at the same time.

Now, images on social media have emerged regarding the new Rs 50 currency note.

Some of the major changes which we have witnessed:

• Colour scheme has been changed to fluorescent blue
• Numerals on the number panels on the front have been designed as ascending in size, from left to right
• Mahatma Gandhi’s portrait has been placed in the middle with the guarantee clause
• Governor Urjit Patel’s signature and the RBI emblem is right besides Mahatma Gandhi’s portrait
• Far right edge of the note has Ashok Pillar emblem
• Rs 50 in Devnagri script is seen in the top right corner
• And, a windowed, de-metalised security strip is seen along breadth-wise with RBI and Bharat in Devanagari script.
• Swachh Bharat logo along with motif of Hampi with Chariot is also seen at the back of the note

We will keep you updated as we receive more information..