Friday, 7 April 2017

New 200 Rs Note Will be Circulated Via Banks, Not ATMs: Revealed

Indian Government Modi Sarkar Started Preparations to bring the 200 Rs Note in the Indian Market. This is First time in Indian History you are going to get new Currency Note as 200 Rupees. Here is the Latest News about the 200 Rs Note. RBI Wants to Circulate new 200 RS Note Through Banks and Not ATMs.

The Reserve Bank of India (RBI) has reportedly cleared a proposal to introduce new lower denomination currency notes of Rs 200 in the economy but it is likely to restrict its circulation only through banks. In view of the chaotic recalibration process of ATMs that occurred following the introduction of two high-denomination banknotes earlier in November last year, the central bank has decided to avoid its dispensation from the Automatic Teller Machines (ATMs), reported Hindustan Times.

bank atm

To plug the paucity of lower denomination currency, the RBI Board in March had approved the issue of Rs 200 notes and the government mints are likely to start printing from June this year. But unlike Rs 2,000 and Rs 500 notes, this new currency will not be available in ATMs and can only be issued through bank branches like Rs 50 and Rs 10 notes which are also not circulated through these machines.

Explaining the need of issuing this lower denomination, the official said many people are still reluctant to take Rs 2,000 notes and therefore there is a shortage of currency notes and need to have lower denomination notes.

"The idea is not to disturb the system once again, there has been disruption for more than four weeks between November and December and it is advisable to circulate these notes through the bank branches, though at present these are just proposals," the official said.

According to reports, the RBI wants to circulate Rs 200 bank notes only through branch, the way Rs 50 and Rs 10 notes are circulated.

Earlier in March, the central bank board had cleared a proposal to introduce Rs 200 notes to minimize the shortage of lower denominations.

"Rs 200 currency note is in the pipeline. But, unless it is notified by the central government, making a dye (block), working on security features and printing process of Rs 200 would not take place. So this time, RBI would implement its plan only after the Centre's notification," a source told India Today.

Also See - News about the 200 Rs Note Security Features

In a late-night address on November 8, Prime Minister Narendra Modi withdrew Rs 500 and Rs 1000 notes, sucking out roughly 86% of the cash in circulation. The government’s exercise to replenish the cash in the system is expected to be completed by the middle of April after months of cash crunch, a State Bank of India report said.

The 200 Rs Leaked Image already creating Big Question if it's real or fake. But It Looks Fake as RBI Just Started Preparation to Print the new 200 Rs. Currency Note. Keep Watching this Space for the Latest 200 Rs. Note Updates.


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