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Monday , 25 September 2017
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RBI to ramp up supply of Rs 200 notes

Mumbai, Aug 25 (IANS) The Reserve Bank of India (RBI) said the supply of Rs 200 notes, brought into circulation on Friday, will soon be ramped up across the country through banking channels.

“The production of these notes is being ramped up by the currency printing presses and over time as more notes are printed, it will be distributed across the country through the banking channels and will be available for public in adequate quantity,” the RBI said in a statement.

Currently, these notes are available only through select RBI offices and banks as is normal when a new denomination of notes is introduced and the supply increases gradually, it said.

Introduction of this denomination is expected to facilitate exchange transactions for the common man and provide complete series of denomination for transactions at the lower end.

The Rs 200 denomination bank note in the Mahatma Gandhi (New) series bears the signature of RBI Governor Urjit R. Patel.

It has the motif of the Sanchi Stupa on the reverse while its base colour is bright yellow.

The note has other designs and geometric patterns aligning with the overall colour scheme, both at the obverse and reverse.

–IANS
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Post Source: Ians feed

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