Mumbai, Aug 24 (PTI): The Reserve Bank will launch Rs 200 banknotes for the first time tomorrow, increasing availability of lower denomination currency in the system.
The bright yellow coloured notes will hit the market just a day after the announcement by Finance Minister Arun Jaitley that the government has given go-ahead to the RBI to issue the new currency bill.
"The Reserve Bank of India will issue on August 25, 2017 Rs 200 denomination banknotes in the Mahatma Gandhi (new) Series, bearing signature of Urjit R Patel, Governor, Reserve Bank of India from select RBI offices, and some banks," RBI said in a press release.
As per new policy on theme-based currency notes, this currency notes bears motif of Sanchi Stupa, to depict India's cultural heritage.
The base colour of the note is bright yellow, RBI said. Following the demonetisation on November 9 last year, the Reserve Bank had introduced Rs 2,000 notes as also new Rs 500 notes with additional security features.
The move led to shortages in the system, putting pressure on small denomination currency, mainly Rs 50 and Rs 100.
Now, with the introduction of Rs 200 notes, the problem people have been facing due to high-value Rs 2,000 notes is expected to be resolved.
The RBI has also introduced a new fluorescent blue Rs 50 banknotes bearing the motif of 'Hampi with Chariot' that depicts India's cultural heritage.
Among other prominent features, the banknote will carry portrait of Mahatma Gandhi at the centre and the denominational numeral "200" with rupee symbol in colour changing ink -- green to blue -- on the bottom right on the obverse (front) side of the note, RBI said.
For visually impaired, the front side of the note will have intaglio or raised printing of Mahatma Gandhi portrait, Ashoka Pillar emblem, raised identification mark 'H' with micro-text Rs 200, four angular bleed lines with two circles in between the lines both on the right and left sides.
The reverse side of the note will carry a Swachh Bharat logo with slogan and the Sanchi Stupa motif, RBI said.
The new note will be in a dimension of 66mmX146mm.