Currency Notes Current Affairs

Government notifies new Rs.200 notes

The Union Finance Ministry on the recommendations of the Central Board of Directors of the Reserve Bank of India (RBI) has notified currency notes of Rs.200. The new notes are likely to be in circulation shortly.

The new Rs.200 currency note was issued through an official gazette notification by the Finance Ministry’s Department of Economic Affairs in exercise of powers conferred by sub-section (1) of section 24 of RBI Act, 1934.

Key Facts

The Rs.200 denomination banknotes in the Mahatma Gandhi (New) Series bear signature of Governor Dr. Urjit R. Patel. It has Motif of Sanchi Stupa on the reverse, depicting the country’s cultural heritage. The base colour of the note is Bright Yellow.

The new Rs.200 currency note will carry advanced security features to prevent counterfeiting. It has gone through different levels of security and quality checks at the government’s press unit at Hoshangabad (Madhya Pradesh).

It has also reported that RBI may not allow ATMs to dispense new Rs 200 notes. It may be circulated only through banks and not ATMs like Rs.50, Rs.20 and Rs.10 notes are circulated.

Comment

This is the fourth new note (after Rs.2000, Rs, 500 and Rs.50) to be announced since November 2016 aftermath of demonetisation when Rs. 1000 and Rs.500 old currency notes were demonetised. The introduction of the new Rs. 200 note is expected to ease the problems faced by people due to high-value Rs.2,000 notes and ease pressure on lower-denomination currency bills.

Printing of currency notes

The printing of currency notes in India is done either in printing units run by the government-run Security Printing and Minting Corporation of India Ltd (SPMCIL) or at printing presses in Salboni (West Bengal) and Mysore (Karnataka), managed by the RBI-owned Bharatiya Reserve Bank Note Mudran Private Ltd (BRBNMP).

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RBI to issue new Rs 50 currency note

The Reserve Bank of India (RBI) will shortly issue new banknotes of Rs.50 denomination in the Mahatma Gandhi (New) Series. The base colour of the new notes will be fluorescent blue.

RBI also has clarified that all banknotes in Rs.50 denomination issued in the earlier series will continue to be legal tender.

Key Features new Rs.50 note

Its dimension will be 66 mm x 135 mm. It will have a motif of Hampi with Chariot on the reverse, depicting the country’s cultural heritage along with the Swachh Bharat logo, numeral 50 in devnagiri, year of printing and the language panel.

It will have Mahatma Gandhi’s portrait at the Centre and a see through register with enominational numeral 50. Micro letters ‘भारत, ‘INDIA’, ‘RBI’and ‘50’ and Ashoka Pillar emblem on the right will also feature on the front side.

The security thread will have inscriptions ‘भारत’and RBI. The number panel will have numerals growing from small to big on the top left side and bottom right side. The banknote will bear the signature of RBI Governor Dr. Urjit R. Patel on the front side along with the guarantee and promise clause and the RBI emblem.

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