Lynching out the higher denomination notes from the economy, Prime Minister Narendra Modi has made the economy a sensitive hub to the currency related news. People of this country will never forget the November, 2016 attack on curbing and counterfeiting fake currency. Hence is the reason that any news related to the currency is running wild in the economy.
With the apex bank’s approval of the idea to launch the Rs 200 denomination notes, the proposal still awaits the doors of the central government for implementation. “Rs 200 currency note is in the pipeline. But, unless it is notified by the central government, making a dye (block), working on security features and printing process of Rs 200 would not take place. So this time, RBI would implement its plan only after the Centre’s notification,” said a source from the government.
The announcement of 8th November had a supplementary draft of this younger denominations, which was awaited for some needed amendments. After almost 5 months, it’s now said to be perfect for implementation and hence awaits a nod. This denomination would be in circulation sooner there are enough printed currencies. The news of the Reserve Bank starting to print in the month of June, has gone viral over various medias, with doctored images of the under designed denomination.
Notes have being the biggest newsmakers, be it in case of implementation policy or withdrawal limits, hope a new era of highly secured notes provide the citizens a relief of fake and counterfeited currencies. The government is trying its level best to try and bridge the gap, which raised fingers over demonetization and bring in some relief to circulation channel, which falls short of some denominations.
