The RBI will issue bright yellow-coloured Rs 200 denomination banknotes tomorrow, the central bank today alleged. In a notice, the banking regulator supposed, latest 200 rupees notes will be introduced “in the Mahatma Gandhi (New) Series, containing the signature of Governor, Dr Urjit R Patel, Reserve Bank of India from select RBI offices, and several banks”.
The latest denomination contains Motif of Sanchi Stupa from MP on the reverse, portraying the country’s cultural legacy. RBI supposed “The base colour of the new note of 200 rupees is Bright Yellow.” RBI added that “beginning of a new currency denomination and blueprint is completed keeping in consideration diverse factors such as easiness of transactions for the ordinary man, inflation, substitute of soiled banknotes, and the necessitate for fighting counterfeiting.”
After demonetisation in November 2016, RBI had issued new 500 rupees notes and for the foremost time 2,000 rupees denomination notes. Reports have recommended that 2000 rupees notes will be slowly phased out.
At first, the new 200 rupees note will not be accessible at ATM booths. Paying the note all the way through ATMs will require recalibration. The notes, therefore, will be given out through bank branches crossways the country, just similar to the 10 rupees, 20 rupees and, 50 rupees as well as coins of other denominations.
Silent features of new currency notes of 200 rupees includes
On the front, It has seen through the roll with denominational numeral 200, also printed in Devanagari, has a portrayal of Mahatma Gandhi at the centre, Micro letters of ‘RBI’, ‘भारत’, ‘India’ along with ‘200′.
The dimension of the new 200 rupees note will be 66 mm × 146 mm, and It also has windowed safety thread with words ‘भारत’ and RBI with colour shift. The colour of that thread alters from green to blue when the note is twisted.
On the back, It has Swachh Bharat logo with the slogan, the design of Sanchi Stupa, the printing year of the note on the left along with the denominational number २०० written in Devanagari.
Intended for visually impaired It contains intaglio or raised printing of Mahatma Gandhi portrait, raised identification mark H with micro-text ₹200, Ashoka Pillar emblem, also have four angular bleed lines among two circles in amid the lines both on the right as well as left sides.
Furthermore, RBI supposed that to attain the best system of currency that would reduce the number of denominations as increasing the chance of proffering precise change, particularly at the lower end of denominations. There is a rational necessitate to bring in the missing denomination of 200 rupees, which will formulate the current currency system more competent.
The best system of denominations of currency, i.e. coins and notes is one that would reduce the number of denominations plus at the same time as augmenting the chance of proffering precise change. So, what should be the finest blend of currency denominations? Countless countries have chosen to employ a near disparity of the Renard Series, i.e., 1:2 or else 1:2.5 ratio amid nearby denominations of currency, which entirely means that the denomination should be two times or two and half times of its prior denomination.
Such a ratio permits swap of value normally in an utmost of three denominations. In India, we have currency denominations of rupees 1, 2, 5, 10, 20, 50, 100, 500 as well as 2000. And so in the lower ending of the denomination series, 200 rupees is the missing one.