Social Media Is Going Crazy Over The New Rs. 200 Note

Putting a stop on the rumors about the new notes, RBI has recently introduced the new Rs.200 note. Central Bank announced the move on Thursday saying that the new notes will act as a missing link and make it easier for people to transact in lower denomination currency. It will bring greater efficiency into the economy of the country.

New Rs.200 Note

RBI said during a press release, The Reserve Bank of India will issue on August 25, 2017, Rs. 200 denomination banknotes in the Mahatma Gandhi (new) Series, bearing the signature of Urjit R Patel, Governor, Reserve Bank of India from select RBI offices, and some banks.”

The new Rs.200 note is in orange-saffron color

The current notes were declared just a day after the finance minister gave go-ahead to the RBI to issue the new currency bill. These notes will be the 4th one to be announced since November 2016. Earlier this year, the Modi government banned the old notes in order to choke tax evaders.

New Rs.200 Note

Following the denomination, the government introduced new Rs.2000 and Rs.500 notes. The phasing out of the high-value notes led to severe cash deficit in the economy and put pressure on the notes of lower value.

Talking about the system of currency in the market, RBI said, “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, there is a logical need to introduce the missing denomination of Rs. 200. It will make the present currency system more efficient.”

New Rs.200 Note

While the government is busy wondering on the effect of new notes on the people, social media is filled with excitement. Some people are confused about the color of the new notes while some have great suggestions for the RBI. In short, joke-fest is going up there on the internet especially, Twitter.

Check out some of the reactions on the new Rs.200 note here:-

What are your views on the new Rs.200 note? Let us know.