New Delhi: The Reserve Bank of India is going to roll out the new denomination of Rs 200 by August 25, the Union Government confirmed on Thursday. The denomination of the notes will hit the bank and ATM’s on August 25 with immediate effect.
In exercise of the powers conferred by sub-section (1) of section 24 of the Reserve Bank of India Act, 1934 and on the recommendations of the Central Board of Directors of the Reserve Bank of India, the Central Government hereby specifies the denomination of bank notes of the value of two hundred rupees,” an official government notification said.
Earlier, the images of the new denomination note goes viral on social media. Along with the new Rs 200 note, the government has also confirmed a new Rs 50 note. The earlier Rs 50 notes will continue to remain legal tender.
The new Rs 200 note will help in day-to-day transactions and will replenish the reduction in Rs 500 notes following the demonetisation move by the Union government on November 8 last year.
