Nifty99000 100%

Sensex99000 100%

Article rating: No rating
Article rating: No rating
Article rating: No rating
Article rating: No rating
Article rating: No rating
Article rating: No rating
Article rating: No rating
Article rating: No rating
Article rating: No rating
Article rating: No rating
Article rating: No rating
Article rating: No rating
Article rating: No rating
Article rating: No rating
Article rating: No rating
Article rating: No rating
RSS

News

Yet to see Rs 200 notes

Author: The Finapolis Team/Saturday, August 26, 2017/Categories: Currency

Yet to see Rs 200 notes

It’ll be a longer wait for those who are looking for smaller denominations rupee notes at ATMs. Despite the Reserve Bank of India (RBI) releasing the new Rs 200 notes on August 25, they are not available at the ATMs just yet.

The notes were introduced in a bid to increase the circulation of smaller denominations and bridge the gap between high value notes and smaller denomination notes. On August 18, the RBI had launched new Rs 50 notes as well. However, the Rs 200 notes are only available in select RBI counters and banks.

Also, the size of the cash-holding cassettes inside the automated teller machines (ATM) need to be calibrated to enable dispensation of the new notes. At present, the ATMs are configured to dispense Rs 100, Rs 500 and Rs 2000 notes only. This could take a week or more.

The Rs 200 denomination bank note is bright yellow in colour with the motif of the Sanchi Stupa on the reverse. The notes bear the signature of RBI Governor Urjit R. Patel.

The Rs 50 currency notes are fluorescent blue in colour with the motif of Hampi with chariot on the reverse. Dimension of the bank note are 66 mm x 135 mm.

On August 25, the Reserve Bank of India said it would gradually increase the supply of Rs 200 notes. "The production of these notes is being ramped up by the currency printing presses and over time as more notes are printed, it will be distributed across the country through the banking channels and will be available for public in adequate quantity," the central bank said.

Print Rate this article:
No rating

Number of views (513)/Comments (0)

rajyashree guha

The Finapolis Team

Other posts by The Finapolis Team
Contact author

Leave a comment

Name:
Email:
Comment:
Add comment

Name:
Email:
Subject:
Message:
x

Videos

Ask the Finapolis.

I'm not a robot
 
Dharmendra Satpathy
Col. Sanjeev Govila (retd)
Hum Fauji Investments
 
The Finapolis' expert answers your queries on investments, taxation and personal finance. Want advice? Submit your Question above
Want to Invest
 
 

Categories

Disclaimer

The technical studies / analysis discussed here can be at odds with our fundamental views / analysis. The information and views presented in this report are prepared by Karvy Consultants Limited. The information contained herein is based on our analysis and upon sources that we consider reliable. We, however, do not vouch for the accuracy or the completeness thereof. This material is for personal information and we are not responsible for any loss incurred based upon it. The investments discussed or recommended in this report may not be suitable for all investors. Investors must make their own investment decisions based on their specific investment objectives and financial position and using such independent advice, as they believe necessary. While acting upon any information or analysis mentioned in this report, investors may please note that neither Karvy nor Karvy Consultants nor any person connected with any associate companies of Karvy accepts any liability arising from the use of this information and views mentioned in this document. The author, directors and other employees of Karvy and its affiliates may hold long or short positions in the above mentioned companies from time to time. Every employee of Karvy and its associate companies is required to disclose his/her individual stock holdings and details of trades, if any, that they undertake. The team rendering corporate analysis and investment recommendations are restricted in purchasing/selling of shares or other securities till such a time this recommendation has either been displayed or has been forwarded to clients of Karvy. All employees are further restricted to place orders only through Karvy Consultants Ltd. This report is intended for a restricted audience and we are not soliciting any action based on it. Neither the information nor any opinion expressed herein constitutes an offer or an invitation to make an offer, to buy or sell any securities, or any options, futures or other derivatives related to such securities.