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New Rs 100 notes: RBI Printing in April 2018

New Rs 100 notes: RBI Printing in April 2018

The Reserve Bank of India is all set to bring new Rs 100 notes with printing of the new currency denomination notes set to begin in April next year, a media report said, citing officials.

The RBI in August launched a new Rs 200 note, created to help bettering transactions.

It is expected that within few months of time the public at large will start getting these new Rs 200 notes.

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The Rs 100 note, which is one of the most common denominations in the country, will reportedly retain its size and dimensions to ensure compatibility with automatic-teller machines (ATMs). At its select outlets and identified bank branches, these new Rs 200 notes have been started to supply by the apex bank. The old Rs 100 notes will be withdrawn gradually. According to a State Bank of India (SBI) report, 43.6% of the total cash circulation is in Rs 500 notes while Rs 100 notes account for just over 20%.

The move had sucked out as much as 86 percent of the currency in circulation, severely disrupting the economy.

Ever since the demonetisation of Rs 500 and Rs 1,000 on 8 November 2016, the government has introduced two new denominations of Rs 200 and Rs 2,000 and also introduced new Rs 50. This move, as part of the demonetization exercise launched by PM Narendra Modi, has been taken to curb the menace of black money and to eliminate tax evaders in the present existing eco-system. This, it said, was required to "achieve the optimal system of currency that would minimise the number of denominations while increasing the probability of proffering exact change, especially at the lower end of denominations". The Rs. 200 note was introduced to help to ease transactions.


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