New Rs 200 notes coming soon in India
The process of printing the new Rs 200 notes is likely to begin after June.
India's supreme banking authority, the Reserve Bank of India (RBI), has cleared a proposal to introduce new currency notes of Rs 200 denomination, LiveMint reports.
The RBI board took the decision at the RBI board meeting in March, two people aware of the development told the paper.
"The process of printing the new Rs 200 notes is likely to begin after June, once the government officially approves this new denomination," Livemint.com reported quoting sources.
Notably, last month RBI also started field trials of plastic notes of Rs 10 as plastic notes are expected to last longer than cotton substrate based banknotes.
If introduced, Rs 200 will be the second new denomination to be introduced after the Rs 2,000 notes.
On 8 November, RBI announced the withdrawal of Rs500 and Rs1,000 currency notes.
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