The Indian 200-rupee note (₹200) is a denomination of the Indian rupee. Post 2016 Indian banknote demonetisation, five new currency notes have been announced by the Reserve Bank of India-- ₹2,000, ₹500, ₹200, ₹50, and ₹1. In March, 2017, the decision to introduce ₹200 notes was taken by the Reserve Bank of India with the consultation of the Ministry of Finance. The introduction of the ₹200 rupee note was suggested by Anoop Kumar Sharma from Biar, a small village in Hamirpur, Himachal Pradesh,India. He suggested through his posts on Facebook, Twitter & WhatsApp on 11th November 2016 just after the note ban of ₹500 & ₹1000 denominations on 9th November 2016. The currency is in print by printing units run by the government-run Security Printing and Minting Corporation of India or at printing presses in Mysore and Salboni, managed by the Reserve Bank of India owned Bharatiya Reserve Bank Note Mudran Private Limited, reportedly by Times of India. The Government of India (GOI) had examined the introduction of the ₹ 200 notes that would help citizens transact easily.In June, 2017, a photograph of a ₹200 banknote went viral on social media platforms like Facebook and WhatsApp. RBI announced the specifications of new 200 rupee note in the Mahatma Gandhi New Series, bearing signature of Dr. Urjit R. Patel, Governor, Reserve Bank of India on 24 August 2017
The Reserve Bank of India will issue on August 25, 2017 Rs. 200 denomination banknotes in the Mahatma Gandhi (new) Series, bearing signature of Urjit R Patel, Governor, Reserve Bank of India from select RBI offices, and some banks," RBI said in a press release.
As per the new policy on theme-based currency notes, the Rs. 200 bill bears motif of Sanchi Stupa to depict India's cultural heritage.
India has currency denominations of Rs. 1, 2, 5, 10, 20, 50, 100, 500 and 2,000. As such, in the lower end of the denomination series, Rs. 200 has been the missing link. The RBI had recently introduced Rs. 50 note with a new look and additional security features.
India has currency denominations of Rs. 1, 2, 5, 10, 20, 50, 100, 500 and 2,000. As such, in the lower end of the denomination series, Rs. 200 has been the missing link. The RBI had recently introduced Rs. 50 note with a new look and additional security features.
"To achieve the optimal system of currency that would minimise the number of denominations while increasing the probability of proffering exact change, especially at the lower end of denominations, there is a logical need to introduce the missing denomination of Rs. 200, which will make the present currency system more efficient," RBI said.
Among prominent features, the Rs. 200 banknote will carry portrait of Mahatma Gandhi at the centre and the denominational numeral "200" with rupee symbol in colour changing ink - green to blue - on the bottom right on the obverse (front) side of the note, RBI said.
For visually impaired, the front side of the note will have intaglio or raised printing of Mahatma Gandhi portrait, Ashoka Pillar emblem, raised identification mark 'H' with micro-text Rs. 200, four angular bleed lines with two circles in between the lines both on the right and left sides.
The reverse side of the note will carry a Swachh Bharat logo with slogan and the Sanchi Stupa motif, RBI said.
The new note will be in a dimension of 66mmX146mm.
RBI said the introduction of a new currency denomination and design is done keeping in consideration various factors like ease of transactions for the common man, replacement of soiled banknotes, inflation and the need for combating counterfeiting.
Among prominent features, the Rs. 200 banknote will carry portrait of Mahatma Gandhi at the centre and the denominational numeral "200" with rupee symbol in colour changing ink - green to blue - on the bottom right on the obverse (front) side of the note, RBI said.
For visually impaired, the front side of the note will have intaglio or raised printing of Mahatma Gandhi portrait, Ashoka Pillar emblem, raised identification mark 'H' with micro-text Rs. 200, four angular bleed lines with two circles in between the lines both on the right and left sides.
The reverse side of the note will carry a Swachh Bharat logo with slogan and the Sanchi Stupa motif, RBI said.
The new note will be in a dimension of 66mmX146mm.
RBI said the introduction of a new currency denomination and design is done keeping in consideration various factors like ease of transactions for the common man, replacement of soiled banknotes, inflation and the need for combating counterfeiting.
Ganesh Chaurthi is a good day to launch a new currency note, but those who were hoping that their automated teller machines (ATMs) will spit out crisp new Rs200 notes on Friday will be disappointed.
The first tranche of the new note issued by the Reserve Bank of India (RBI) will be available at select RBI offices and banks. And Friday being a bank holiday in some parts of the country, the notes may not be available over the counter. It will take at least a week to get the new notes from ATMs.
This wait is due to the time it takes for ATM manufacturers to recalibrate the machines, given that there are over 200,000 ATMs in the country. A typical ATM has 3-4 cassettes, which are equipped to handle different denominations of notes. “To be able to provide Rs200 denomination notes, the cassettes have to be reconfigured, which will take time. We still have not received these notes to understand the dimension for the configuration,” said Radha Rama Dorai, managing director–ATM and allied services, FIS, an ATM manufacturer.
Cassettes are small removable boxes that hold all the cash inside an ATM. Each cassette has to be configured to dispense notes of a particular value. Currently, the ATMs can dispense Rs100, and new Rs500 and Rs2,000 notes.
“Since the length of the new Rs200 currency is different from the existing currency in circulation (Rs100, Rs500 and Rs2,000), cassette calibration is required to be done. ATM manufacturers need to do a complete testing of the new Rs200 denomination currency and provide the parameters which need to be configured at the ATM by an engineer. At ATM switch level, we will require to do switch configuration and complete testing of new Rs200 denomination currency before implementation,” said Himanshu Pujara, managing director, Euronet Services India Pvt. Ltd.
To reconfigure the ATMs, the ATM providers will first need to get the notes to know their dimension. Next, ATM providers and banks will have to check the supply of notes. Each cassette in an ATM can hold up to 2,500 notes. The ATM providers will not want to run the ATM below capacity. Hence, they will also ensure that the supply of Rs200 denomination notes is good enough to run the cassettes at full capacity. This process will take a week at the minimum.
To begin with, ATM providers will test the ATMs with the notes. Next, their engineers will have to visit each ATM to configure the cassettes.
The RBI introduced the new currency denomination to ease cash transactions, replace soiled banknotes and to combat counterfeiting. The new denomination has the motif of Sanchi Stupa on the reverse and its base colour is bright yellow. The note will carry the signature of RBI governor Urjit Patel, the year of printing on the left, and the Swachh Bharat logo with the slogan. The dimension of the bank note will be 66mm X 146mm.
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well done
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