Reserve Bank of India to decide on Rs 200 note release timing

Finance Minister Arun Jaitley yesterday said the government is not considering banning R2,000 notes, and the Reserve Bank will decide on the timing of issuing the new Rs 200 bill

Finance Minister Arun Jaitley

Finance Minister Arun Jaitley yesterday said the government is not considering banning R2,000 notes, and the Reserve Bank will decide on the timing of issuing the new Rs 200 bill.

The government has given the go-ahead to the RBI to issue Rs 200 notes, a move that is aimed at easing the pressure on lower-denomination currency.

“The whole process regarding by when the notes will be printed, RBI will take care of that issue. Thus, it would be appropriate for the RBI to announce about dates and related matters to the note printing,” Jaitley told reporters here.
When asked whether the government is considering phasing out R2,000 notes, he said, “No, there was no such discussion”.

"Exciting news! Mid-day is now on WhatsApp Channels Subscribe today by clicking the link and stay updated with the latest news!" Click here!