India's apex banking authority, the Reserve Bank of India (RBI), has approved the introduction of Rs 200 banknotes, Livemint has reported, saying that the printing of the notes could begin after June.
The proposal, however, has not yet been approved by the government. The printing will begin only after the government approves the new denomination.
According to the Livemint report, this move is a part of government’s effort to rework the currency mix. In November 2016, the central government had demonetised Rs 500 and Rs 1,000 notes, later introducing a redesigned banknote of Rs 500 and a new Rs 2,000 note.
The proposal for Rs 200 note was approved by a 14-member board of the RBI last month. If introduced, Rs 200 will be the second new denomination to be introduced after the Rs 2,000 notes.
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