New Delhi: Reserve Bank of India (RBI) cleared the proposal to introduce bank notes of Rs.200 denomination.
According to the news published in Live Mint, this decision was taken by the members of the RBI board during a meeting held in March.
It is also reported that the printing process of Rs. 200 notes would start after June 2017 after seeking final approval from Central Govt.
Meanwhile, spokesman of RBI declined to comment on it.
It may be mentioned that on 8th November 2016, Govt. had withdrawn Specific Bank Note (SBN) of Rs. 500 and Rs. 1000. These withdrawals resulted in shortage of hard currency as these SBN accounted for around 86% of the total currency in value.
After demonetization of SBN, RBI introduced new Rs 2,000 notes and redesigned Rs. 500 notes. Now, Govt. is likely to introduce Rs. 200 denomination notes.