It was reported that new Rs 200 Notes will hit the ATMs and banks probably in the early week of September. There will be no new 2000 Rs in India.
"Introduction of Rs 200 notes will serve two purposes: to facilitate cash usages from a transaction motive perspective, and will increase the share of smaller denomination notes in the overall currency circulation", the economist added.
However, the expected release of new Rs 200 notes has started fuelling another speculation that the government may be planning to suck out all the Rs 2000 notes from the economy.
"The government has today specified denomination of bank note of Rs 200 value".
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The government on Wednesday also gave its go-ahead to the Reserve Bank to issue Rs 200 notes that will ease pressure on lower-denomination currency bills. The notes are going through multiple checks for security and quality, sources have said. At the time of demonetization, there were reports of the illegal copy being in circulation and people were getting fooled because of the limited supply of newly launched note.
For some time reports of illegal hoarding of the Rs 2000 bank notes and black marketing have come to light after it was introduced dramatically to remonetise the withdrawn currency from the system.
The new Rs 200 note will help in day-to-day transactions and will replenish the reduction in Rs 500 notes following the demonetization move by the Union government on November 8 past year. "The whole process regarding by when the notes will be printed, RBI will take care of that issue. Thus, it will be appropriate for the RBI to announce about dates and matters related to the note printing", Jaitley said.
This exercise of printing Rs 200 denomination notes is being undertaken to further improve the currency situation in the country, sources had told PTI.
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