The Reserve Bank of India will be introducing Rs. 200 notes by end of August or early September. This has been reported from various sources. The new denomination notes, which will initially have a trial run of 50 crore. This is being taken as another step to fight against black money and counterfeit currency.
Demonetization was believed to the first step taken toward fighting black money. Demonetization illegalised the popular Rs. 500 and Rs. 1000 notes overnight. RBI also believes the Rs. 200 notes will become a ‘very popular’ denomination. The Chief Economist at State Bank of India, Soumya Kanti Ghosh pointed out that the new notes will ease the ‘operational difficulties’ faced by the common man.
The RBI said that the new notes will come with additional security features. To check counterfeiting and for better security, the central bank has also proposed changing features of all notes every 3-4 years. On the other hand, plastic currency notes will soon be a reality in India. Trial run of plastic note might soon start in the country starting with plastic notes of Rs. 10.