After the mess and muddles of the demonetization, the Indian economy is catching up the pace. The quick and unanticipated move from the government calling back the 2 most prominent denominations from the market to check counterfeit and corruption, was one of the most massive financial revolution, India has faced. From households to corporates, everyone went bewildered. The waves of anxiety shook the balance of the economy like high rector scale earth quake.
While the discussion on the pros and cons of demonetization still running behind, the government is trying all possible resorts to gain back the momentum. In par with introduction, supply and circulation of the newer version of INR 500 and the new denomination INR 2000, the RBI is all set to lessen the burden of common man by introducing INR 200 notes. This will help in increasing the cash circulation of the financial market along with ease in transactions. This is expected to be the final steps of the remonitaztion procedures. Lower denomination bills, are expected to fill the void created by calling back of the previous notes.
Though many speculations are on about the details of the new bill, no authentic confirmation on the features has confirmed by RBI yet. But it has ensured to be equipped with high end security measure to avoid counterfeiting. As per the information by the Financial Ministry of India, the security features of the new notes, which are supposed to be printed in Mysore, is set such that it meets the global standards.
With the introduction of 200 notes, Indian currency will include denominations for Re 1, Rs 2, Rs 5, Rs 10, Rs 20, Rs 50, Rs 100, Rs 200 and Rs 2000. As per the prevailing information, available presently, it is said that, these currencies will not be made available through ATMs in the beginning. However it will be distributed through direct transactions in banks. This is expected to change soon as the circulation of the currency falls into track.
Let’s wait eagerly for the new member to the Indian currency saga and the economic frequencies so created!!