Why RBI is giving Rs 200 Note? Everything You Need to Know
With demonetisation and the incoming of RS 2000 rupee notes .
The RBI is giving Rs 200 note from friday.
The Reserve Bank (RBI) has made an announcement to issue Rs 200 notes on friday. Rs 200 Note looks different. Below is the picture of Rs 200 Note
The chief economic adviser of the State Bank Of India ( SBI) says the Rs 200 note is a “missing midddle”.
Soumya Kanti Gosh , the chief economic adviser points out why RBI is giving Rs 200 notes.
She says that post demonetisation , There was only 2000 RS note denominations . And it would get really hard to get a change for such a higher denomination . Also, there is no smaller denomination between 2000rs note and 500 rs note . So RbI is giving Rs 200 note to easy out the process.
The prime minister of India, MR. NARENDRA MODI , cancelled out the consumption of Rs500 and RS 1000 denominations .
In order to reduce corruption and reduce the black money . This decision was made on November 2016 and it made the country turn upside down overnight.
But Why is RBI giving Rs 200 note.
According to the estimations made by SBI , before demonetisation , all the country’s circulation was done in Higher denominations . This resulted in the circulation on black money more and led to corruption.
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Days after announcing the denominations as an illegal tender , new notes were introduced into the system. The new notes were in denomination of Rs 2000 and Rs 500. And now we have got the news that rs 2000 note might discontinue.
While RS 500, 100,50,1 note denominations have always been in the history but Rs2000 and Rs500 note denominations have made their first public appearance . And now RBI is giving away Rs 200 note.
The new 200 Rs note would be available in selected banks and branches but won’t be available for withdrawal from ATM’S.