In the history of RBI, for the first time, the banker to the banks is slated to roll out the new Rs. 200 currency by August end or early September. The new currency with a print run of upto Rs. 50 crore isn an attempt to forfeit counterfeit currency and black money in the system.
As a first step towards curbing black money and other illicit practices, Narendra Modi led government in November last year scrapped high value currency notes to immobilise the black market. The new currency which shall be a very popular cuurency will be a bridge between Rs. 100 and Rs. 500 currency notes. Also as per an economist, the new currency of Rs. 200 which will be in circulation next month, shall overcome the operational challenges faced by the common man.
On the prior introduction of Rs. 2000 currency notes, led to illegal hoarding and hence more of unaccounted money ruled the system.
This move is taken to further clamp down on unaccounted and untaxed for cash in the economy.