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RBI clears proposal for new Rs 200 note, says report

  •   Tue, Apr 04 2017 01:02:25 PM

New Delhi, Apr 4 (The Indian Express): India's apex banking authority, the Reserve Bank of India, has cleared a proposal to introduce new currency notes of Rs 200, according to a report by LiveMint.

The proposal was cleared during a board meeting last month, two officials of the RBI were quoted as saying in the news report.

The process of producing these new notes will most likely begin after June, once the government officially approves the proposal, the news report said.

Ever since Prime Minister Narendra Modi announced the demonetisation of Rs 500 and Rs 1,000 notes on November 8, 2016, there has been talks of a new denomination of currency possibly being introduced. Now it has been confirmed that a Rupees 200 denomination note, will indeed be introduced.

The government had introduced new Rs 2,000 and Rs 500 notes after the demonetisation but kept the old Rs 100 notes as legal tender.
  

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Comment on this article

  • SMR, Karkala

    Wed, Apr 05 2017

    It is not question of printing in different denominations. The actual concern of government should be what additional security features the new notes must have?
    The paper being imported and substandard printing quality can't solve the corruption.
    If the emphasis of the Modi government is on 'cashless economy' why do they need new denomination currency? Is Rs2000 face the threat of withdrawal which was hurriedly rolled out due to liquid crunch?

    The United States one hundred-dollar bill ($100) is a denomination of United States currency featuring statesman, inventor, diplomat and American founding father Benjamin Franklin on the obverse of the bill.

    Is Father of nation Mahatama Gandhi will be featuring in new currency or like 'Khadi' calendar he is forcefully evicted?

    Jai Hind

    DisAgree Agree [3] Reply Report Abuse

  • Shekar Moily P, Udupi Taluk & District

    Tue, Apr 04 2017

    With this frequent changes,modification and introduction,our old and regular transaction will slowly and gradually come to our fold again without any doubt.This frequent changes of RBI does not looks healthy sign from addressing the menace of corruption point of view and economical growth of any country according to my opinion.This will not only make a more room for money launderers,black marketers,black money hoarders.According to my opinion and what I would like to suggest is to ban all high value denomination notes and keep only small denominations of Rs 100/=50/=20/and 10 notes in circulation.High denomination like Rs 2000/- is really nuisance to the public in getting their changes but also giving room for the corrupt people to hoard their black money.

    DisAgree Agree [5] Reply Report Abuse

  • Jossey Saldanha, Mumbai

    Tue, Apr 04 2017

    Another foolish ...

    DisAgree [4] Agree [12] Reply Report Abuse

  • Flavian, Mangalore/Kuwait

    Tue, Apr 04 2017

    100 Rupee note must be laughing at other higher denominations.

    DisAgree [4] Agree [21] Reply Report Abuse

  • sri, Karkala

    Tue, Apr 04 2017

    Government should not approve that proposal.
    Instead print more 100 and 500s.

    DisAgree [17] Agree [6] Reply Report Abuse

  • Emi, Brighton

    Tue, Apr 04 2017

    NOW ZEE NEWS WILL SAY. THERE IS MODI CHIP INSIDE.

    DisAgree [4] Agree [25] Reply Report Abuse

  • Salvador Pereira, Mangalore / Dubai

    Tue, Apr 04 2017

    NRI's cannot change the old bank notes even after getting the Customs stamp on the declaration, even in RBI branch Bangalore. Only few RBI branches accepting all over India. This is unfair from government. They gave residents 50 days to change the old notes, why not NRIS till end of year 2017 at least? As some of the workers return once in 2 years. There should be equal opportunity to all citizens. How a NRI can travel to RBI Branch Chennai or Mumbai to change INR. 5,000.00. Cost will be more than the value. Every rupee is earned with hard work and there should be fair chance to every one.

    DisAgree [4] Agree [66] Reply Report Abuse

  • ahmed hussian, uchil

    Tue, Apr 04 2017

    NICE NOTE Mr I THINK GOVT SHOULD RE THINK MANY PEOPLE HAVE 500 TO 5000 RUPEES OLD CURRENCEY IN HAND BECAUSE SPECIALLY LADIES HAVE THE HABIT OF KEEPING SOME EMERGENCY AMOUNT THAT EVEN THEIR HUSBAND MIGHT NOT KNOW SOME TIME LADIES FORGOTTEN WHERE THEY HIDE THESE KIND OF AMOUNT NOW COMES OUT, THIS IS NOT BLACK MONEY OR INCOME TAX CHOR, SO MY OPINION IS GOVT SHOULD RETHINK AND GIVE AN OPPORTUNITY TO EXCHANGE THEIR HARD EARN MONEY OTHER WISE ALL THIS SMALL AMOUNT WILL GO WASTE

    DisAgree [2] Agree [12] Reply Report Abuse

  • Rita, Germany

    Wed, Apr 05 2017

    @Salvador Pereira Dubai,well said Mr Pereira.One cant travel to India because of money change.And I heard demonetized notes are not accepted by RBI ,from indians who have a foreign pass.but only with indian Pass Looks like we are abandoned..what a nonsense.when we travel back ,we do have some indian rupees ,left back .Afterall a few rupees have no value nowadays.In foreign countrys they dont/didnt accept as announced of demonetized. Better was to give us a long time .Now in India noone is accepting 200Rs or higherones,still bad is dont get change back.Better to print in a daily corresponding basis 100 Rs notes.For small business to buy fish you cant give a check,or plastic card..One who make fake notes will do it any way. We pay for their decision very much.

    DisAgree Agree [1] Reply Report Abuse

  • NN, Mangalore

    Wed, Apr 05 2017

    As per law, NRIs are allowed to take upto Rs.5000 Indian currency outside the country. It is fair that Govt. should allow them to exchange upto Rs.5000 on their first visit back from abroad within two years after demonetization. The problem is that some NRIs are using their status to exchange old notes for others on commission basis.

    DisAgree Agree [2] Reply Report Abuse

  • N.M, Mangalore

    Tue, Apr 04 2017

    This is what happens when you elect incompetent, unscrupulous and unqualified people to lead you.

    Will you elevate your filing clerk with no Finance experience to the position of CFO? the answer is NO, but here we make such men in charge of running our country.

    Proof of voting for such people = Demonetization Disaster.

    DisAgree [5] Agree [18] Reply Report Abuse

  • j.anata, Mangaluru / Bengaluru

    Tue, Apr 04 2017

    19 States are ruled by BJP & allies

    DisAgree [6] Agree [2] Reply Report Abuse

  • Joseph F. Gonsalves, Bannur, Puttur / Mangalore

    Tue, Apr 04 2017

    THE GOVERNMENT HAS NO PLANS IN THE MIND WHAT TO PRINT AND WHAT NOT TO PRINT. EXAMPLE THEY FIRST PRINTED 2000 RUPEE NOTES INSTEAD OF 500 RUPPEE AND 100 RUPEE NOTES.

    DisAgree [5] Agree [37] Reply Report Abuse

  • chandra, surathkal

    Tue, Apr 04 2017

    Great to see INTELLIGENT FINANCIALISTS in this group..........On a lighter side please take my comment lightly :)

    DisAgree [8] Agree [4] Reply Report Abuse

  • Mr, Mangalore

    Tue, Apr 04 2017

    There is a reason why they printed 2000 before 500. Its been answered many times as well. Just give it a good thought.

    DisAgree [10] Agree [12] Reply Report Abuse

  • Gangaram, Moodbidri

    Tue, Apr 04 2017

    sau (100) pe khatra lagne wala hai...........

    DisAgree [1] Agree [6] Reply Report Abuse

  • Satya, Mangalore

    Tue, Apr 04 2017

    It is just a matter of time before the 2000 rupees note will be demonetized.

    DisAgree [4] Agree [29] Reply Report Abuse

  • Anand, Karkala

    Tue, Apr 04 2017

    Let the Government consider some relaxation on old 500 and 1000 currency notes, we will see loads of deposits again in Banks.

    DisAgree [5] Agree [27] Reply Report Abuse

  • Flavian dsouza, chik/bengaluru

    Tue, Apr 04 2017

    why not 250 rupee note ?? Modi wakes up at 4 and gets some gyan and next day he thinks its good for the country and SC now governing India ..liqor ban is a state subject and Ram Mandir is a judicail subject both have been interchanged and roles reversed

    DisAgree [1] Agree [9] Reply Report Abuse


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