Devesh
Core Member
notes of Rs 200 denomination are being printed in one of the government-owned facilities after RBI placed an order a few weeks ago for the bills.
MUMBAI/KOLKATA: India's re-monetisation exercise appears to be entering its final lap, with the central bank beginning to print bills of 200 rupees – perhaps for the first time – to help ease consumer transactions.
The notes of Rs 200 denomination are being printed in one of the government-owned facilities after the Reserve Bank of India ( RBI) placed an order a few weeks ago for the bills, two people familiar with the matter told ET.
An email sent to the RBI seeking its comments could not elicit any response until the publication of this report.
"For day-to-day transaction purposes, the introduction of 200 rupee notes will add to the ease of operations," said Soumya Kanti Ghosh, group chief economist at the SBI Group.
The introduction of the Rs-200 currency notes predates the federal government’s decision to overnight withdraw bills of higher denomination in November as part of a broader exercise to stop counterfeiting and curbing untaxed cash in Asia’s third-biggest economy.
New Currency: Printing of Rs 200 currency notes begins - The Economic Times
MUMBAI/KOLKATA: India's re-monetisation exercise appears to be entering its final lap, with the central bank beginning to print bills of 200 rupees – perhaps for the first time – to help ease consumer transactions.
The notes of Rs 200 denomination are being printed in one of the government-owned facilities after the Reserve Bank of India ( RBI) placed an order a few weeks ago for the bills, two people familiar with the matter told ET.
An email sent to the RBI seeking its comments could not elicit any response until the publication of this report.
"For day-to-day transaction purposes, the introduction of 200 rupee notes will add to the ease of operations," said Soumya Kanti Ghosh, group chief economist at the SBI Group.
The introduction of the Rs-200 currency notes predates the federal government’s decision to overnight withdraw bills of higher denomination in November as part of a broader exercise to stop counterfeiting and curbing untaxed cash in Asia’s third-biggest economy.
New Currency: Printing of Rs 200 currency notes begins - The Economic Times
