The Board of Reserve Bank of India (RBI) has cleared a proposal for introduction of banknotes of Rs 200 denomination. Sources close to the discussion however said that process of printing the new denomination Rs 200 notes will be initiated by RBI only after June once government officially approves the new denomination.

As per the information received, decision on clearning the Rs 200 note was taken at the RBI board meeting held in March. This move of introduction of Rs 200 note is aimed at goverment’s idea of reworking the currency mix.

Post the demonetisation of Rs 500 and Rs 1000 notes, RBI had introduced Rs 2000 denomination and new Rs 500 notes. Interestingly, RBI Deputy Governor NS Vishwanathan had recently said in an event in Tamil Nadu that RBI was not intending to introduce new denomination currency anytime soon. The current clearance of Rs 200 note comes as a contrast to Deputy Governor’s statement.