RBI issues new Rs 200, Rs 50 banknotes
The Reserve Bank of India has introduced two new denomination banknotes of Rs 200 and Rs 50 in the Mahatma Gandhi (New) Series, bearing the signature of RBI Governor Urjit Patel.
The Reserve Bank of India recently introduced two new denomination banknotes of Rs 200 and Rs 50 in the Mahatma Gandhi (New) Series, bearing the signature of RBI Governor Urjit Patel.
Initially, the new Rs 200 notes will be circulated by select RBI offices and some banks. It may not be available through ATMs as they will have to be recalibrated to accommodate the new note.
New Rs 200 Note
Design: It has a motif of Sanchi Stupa on the reverse, depicting the country’s cultural heritage.
Besides this, it has other designs and geometric patterns aligned with the overall colour scheme, both at the obverse and reverse.
Colour: The note’s base colour is bright yellow.
New Rs 50 Note
Design: The note bears the motif of ‘Hampi with Chariot’ on the reverse that depicts India’s cultural heritage.
It further has the Ashoka pillar emblem on the right side of the obverse and bears the year of printing on the reverse side.
It also features a Swachh Bharat logo with slogan and language panel.
Colour: The note is fluorescent blue in colour.
The new notes will be distributed through bank branches, the same way as the existing Rs 50 and Rs 20 notes. ATM manufacturers would need to do a complete testing of the Rs 200 currency to enable reconfiguration of the machines to accommodate the new currency, as its length is different from the ones currently in circulation.
The demonetisation of higher denomination notes of Rs 500 and Rs 1000 in late 2016 had led to huge currency shortage, as almost 86 percent of the currency in circulation was withdrawn. The shortage backed up by the delay in ATM recalibration had led to full chaos and confusion among the common public.
The introduction of the new currency hence is done keeping in consideration various factors like ease of transactions for the common man, replacement of soiled banknotes, inflation and the need for combating counterfeiting.