There’s a new Rs. 200 note in Town!

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In every country there is one organisation which works as a Central Bank. The Central Bank of a country controls and monitors the banking and financial systems of the country. In India, the Reserve Bank of India (RBI) is the Central Bank. One of the important functions of the RBI is to issue currency notes.

The RBI announced that it was introducing bright yellow Rs 200 currency notes from yesterday, 25 August, 2017.

Why did they need to issue a new note? There has been no Rs. 200 note in circulation here. This denomination is brand new. You might remember that in November 2016, the Government of India took away Rs. 1000 and Rs. 500 notes from circulation. They did this because they wanted to cut down on the black money that has been in the system here.

They issued a new Rs. 500 note and a new Rs. 2000 note shortly thereafter. Now the larger denominations are Rs. 100, Rs. 500, Rs. 2000. They have issued this new Rs. 200 note to make it a little easier for people to make payments and receive change.

The new Rs 200 has the image of Sanchi Stupa (from Madhya Pradesh) on the reverse.

Check it out!

Photo Credit: Financial Express
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