RBI To Release Rs 200 Notes Next Month
To enhance the currency situation and for the economic progress of the country, reserve bank of India has undertaken a great step to not to print Rs 2000 notes any more. Well, RBI To Release Rs 200 Notes Next Month so as to ensure effortless and smooth flow of currency in the country.
According to the central bank officials, “Reserve Bank Of India had already initiated the procedure for the printing of new notes and the circulation process will most probably start from the next month. The strong reason behind introducing the 200 Rs notes is to avert the shortage of currency supply. Moreover, the new currency is being going through the process of various testing and quality checks under the printing presses of administration.
RBI To Release Rs 200 Notes
The currency shortage news was being stated by the economic times on 20 July during the introduction of new 500 Rs notes. As it was a sudden and shocking announcement made by the Prime Minister, Narendra Modi to discard old currency of Rs 500 and 1000 preceding year to eradicate black money from the country.
The report from SBI stated that there was an important move towards the allotment and circulation of currency approaching to the smaller denominations and there had been variance created by the availability of Rs 2000 notes immediately after the launch of Rs 500 notes. As per the views by the chief operation officer of SBI, Neeraj Vyas, “we are obtaining the currency from RBI at the value of Rs 500 note in high denomination currency”
RBI stopped printing of Rs. 2000 Notes
Around 3.7 billion notes of Rs 2000 having cash value of Rs 7.4 trillion rupees have already been printed according to the official reporter. ATM service head, Radha Rama Dorai said, “No plunge had been seen in the 200 Rs note supply, we surely believe it to be dragged out of the ATMs after the introduction of Rs 200 notes in the market.
As per the state bank of India reporter, more than billion of 200 Rs notes are likely to hit the Indian economy. Well, the new notes must be out ahead of ending of 2017 so as to have a perfect balance between the demand the supply of currency bills.
So, people will defiantly gonna be excited to know that RBI To Release Rs 200 Notes In The Market by next month. For more cool stuff like this, you are required to stay tuned with our web portal i.e. coolexample.in