Reserve Bank of India has begun the printing of Rs. 200 currency notes as per the proposal taken up after consultations with Finance Minister. As per the reports, Rs. 200 bank notes are sure to come in circulation by August end or September first week. RBI is currently building a stack of 50 Crore notes of this new denomination.
After demonetization, illegal hoards of Rs. 2000 currency notes are found in many placed. At this juncture, introducing Rs. 200 new currency notes is though a broader exercise to stop counterfeiting and stopping the flow of untaxed cash into economy but there has been different views expressed by economists.
The decision is said to be widely based on 1-2-5 sequence widely used in currencies. Under this series, adjacent numbers are separated by a multiple of 2 or 2.5. SBI described Rs. 200 as ‘Missing Middle.’