Reserve Bank says introduction of ₹ 200 notes will facilitate ease of transactions

Ayupp

New Delhi: The Reserve Bank of India will issue on August 25, 2017 ₹ 200 denomination banknotes in the Mahatma Gandhi (New) Series, bearing signature of Dr. Urjit R. Patel, Governor, Reserve Bank of India from select RBI offices, and some banks. The new denomination has Motif of Sanchi Stupa on the reverse, depicting the country’s cultural heritage. The base colour of the note is Bright Yellow. The note has other designs, geometric patterns aligning with the overall colour scheme, both at the obverse and reverse.

The image and salient features of ₹ 200 denomination banknotes in the Mahatma Gandhi (New) Series are as under:

i. Image

ii. Salient Features

Obverse (Front)

1. See through register with denominational numeral 200

2. Latent image with denominational numeral 200

3. Denominational numeral २०० in Devnagari

4. Portrait of Mahatma Gandhi at the centre

5. Micro letters ‘RBI’, ‘भारत’, ‘India’ and ‘200’

6. Windowed security thread with inscriptions ‘भारत’ and RBI with colour shift. Colour of the thread changes from green to blue when the note is tilted

7. Guarantee Clause, Governor’s signature with Promise Clause and RBI emblem towards right of Mahatma Gandhi portrait

8. Denominational numeral with Rupee Symbol, ₹ 200 in colour changing ink (green to blue) on bottom right

9. Ashoka Pillar emblem on the right

10. Mahatma Gandhi portrait and electrotype (200) watermarks

11. Number panel with numerals growing from small to big on the top left side and bottom right side

12. For visually impaired
Intaglio or raised printing of Mahatma Gandhi portrait, Ashoka Pillar emblem, raised Identification mark H with micro-text ₹ 200, four angular bleed lines with two circles in between the lines both on the right and left sides

Reverse (Back)

13. Year of printing of the note on the left

14. Swachh Bharat logo with slogan

15. Language panel

16. Motif of Sanchi Stupa

17. Denominational numeral २०० in Devnagari

Dimension

18. Dimension of the banknote will be 66 mm × 146 mm

Introduction of 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.

Providing the Missing Link

The optimal system of denominations of currency (coins and notes) is one that would minimize the number of denominations and concurrently increase the probability of proffering exact change. So, what should be the optimal mix of currency denominations? Many countries have opted to use a near variation of the Renard Series, i.e., 1:2 or 1:2.5 ratio between adjacent denominations of currency, which means that the denomination should be twice or two and half times of its preceding denomination. Such a ratio allows exchange of value ordinarily in a maximum of three denominations. In India, we have currency denominations of ₹ 1, 2, 5, 10, 20, 50, 100, 500 and 2000. As such, in the lower end of the denomination series, ₹ 200 is the missing one.

Ease of Facilitating Exchange

To achieve the optimal system of currency that would minimize the number of denominations while increasing the probability of proffering exact change, especially at the lower end of denominations, there is a logical need to introduce the missing denomination of ₹ 200, which will make the present currency system more efficient. Provision of the new denomination, therefore, would facilitate exchange, particularly for the common man who deals with denominations at the lower end.



You may also like to read our latest analysed news:
- Fact Check: New Laws in VA to Ban Hiding painted rocks in Public Spaces is prank
- Fact Check: Fake news Giant Squid Washes Ashore on Lake Michigan
- Fact Check: A mother tiger nursing a piglet in California Zoo
- Fact Check: Outbreak of STDs at Crockett County High School
Note:Please like and share our page, so that we can improve further.
Please give your feedback in the below comments.