RBI is planning to introduce Rs 200 notes, says reports. The Reserve Bank of India has approved a proposal to add Rs 200 notes in the country.
According to the reports, the central bank had already taken a decision in this regard in a meeting last month.
"The process of printing the new Rs 200 notes is likely to begin after June, once the government officially approves this new denomination," Live Mint reported quoting sources.
If 200 notes are introduced, it will be the second new denomination of currency to be introduced after the currency ban. After demonetisation, a new version of the Rs 500 note was announced.
The government said on March 17 that the RBI had been authorized to conduct field trials of plastic notes of Rs 10 that have a longer life span. In a written reply in the Lok Sabha, Minister of State for Finance Arjun Ram Meghwal said "it has been decided" to conduct a field trial with plastic banknotes at five locations of the country.