Demonetization in India was announced on 8th November 2016 when Prime Minister Narendra Modi announced an overnight ban on Rs 1000 and Rs 500 notes to choke tax evaders. After demonetization, the government announced Rs 2000 notes. Later, on 13 June 2017, the RBI introduced new notes for Rs 500. A few days back, on 18 August 2017, RBI introduced ₹50 banknote.
Now RBI has finally launched the missing link, i.e., Rs 200 notes after the go-ahead by Finance Minister Arun Jaitley yesterday. The base colour of new note is bright yellow and it carries the signature of RBI governor Urjit Patel.
"Introduction to 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," the RBI said in a statement.
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