Srinagar: The Union government on Wednesday confirmed that a new Rs 200 note will be issued by the Reserve Bank of India (RBI). While no immediate date was made known, the new denomination could well hit ATMs and banks as early as next week, reports said.
“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,” The Indian Express reported quoting a government notification.
As per the report along with the Rs 200 note, the government has also confirmed a new Rs 50 note. The earlier Rs 50 notes will continue to remain legal tender.