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Under printing new 200 rupees notes to hit the market soon
Mumbai: New currency notes of 200 denomination will be soon in circulation in the country to make transaction easy. The printing of these notes have already begun, according to official sources here.
The proposal to introduce Rs 200 notes was mooted by the Reserve Bank of India some time back which was approved by its board of directors. Later, it had received the government's nod.
Following this development the RBI placed the order for printing . The notes are printed either in the printing units run by the Security Printing and Minting Corporation of India.
The decision to print notes of lower denomination was taken in view of the problems faced by consumers in transaction in the wake of demonetisation. Notes of higher values--Rs 500 and Rs 1000-- were banned from November 9.
New 500 rupees notes are back in circulation but the ban on Rs 1000 notes continues.
This had created a big gap and consumers were finding it difficult to operate. This was the main reason behind printing 200 rupees notes.
The banned notes accounted for 86 per cent of notes in circulation. The availability level was short by 18 per cent as on June 9.
The new 200 rupees notes have better security features and is likely to make counterfeiting difficult.
They are being printed after security and quality checks at government printing press at Hoshanabad ( Madhya Pradesh).
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