New Delhi: New Rs 200 notes entered the banking system today. The central bank, while announcing the move on Thursday, said that the Rs 200 notes will act as a “missing link” and make it easier for people to transact in lower denomination currency, thereby bringing greater efficiency into the system.
The bright yellow coloured Rs 200 notes was launched just a day after the finance minister gave go-ahead to the Reserve Bank of India or RBI to issue the new currency bill.
“The new denomination has motif of Sanchi Stupa on the reverse, depicting the country’s cultural heritage. The base colour of the note is bright yellow. The note has other designs, geometric patterns aligning with the overall colour scheme, both at the obverse and reverse,” RBI said in a statement on Thursday.
RBI reportedly decided to bring in 200-rupee notes in March, after consulting with the Finance Ministry. The notes are going through multiple checks for security and quality at the printing press.