The finance ministry, in a notification, said that on the recommendations of the Central Board of Directors of the RBI, “the central government hereby specifies the denomination of bank notes of the value of two hundred rupees”.
The new ₹ 200 notes are likely to be in circulation shortly.
” RBI is the nodal agency and it will come out with date and timing of the release of these notes,” the Finance Minister said while replying to reporters questions.
According to sources, the exercise of printing Rs 200 denomination notes is being undertaken to further improve the currency situation in the country.
Following the demonetization on November 9, 2016, the Reserve Bank had introduced ₹ 2,000 notes and also issued a new ₹ 500 notes with additional security features. Currency notes of ₹ 1000 was withdrawn to and higher denomination currency of ₹ 2000 was introduced. The move was aimed at checking black money and fake currency in circulation.
The Reserve Bank has also introduced a new fluorescent blue ₹ 50 note.
(With inputs from PTI)