Banking regulator the Reserve Bank of India has given its nod to printing of new Rs 200 notes, according to a report . The central bank expects printing of new notes would start after the month of June later this year.
An RBI report while citing two sources close to the development said that the Central Board of RBI has already approved the proposal. The proposal was okayed in March and printing of new Rs 200 denomination notes is likely to start after June when the Modi government gives its assent.
The RBI Central Board consists of 14 members, including governor Urjit Patel, Economic Affairs Secretary Shaktikanta Das, Financial Services Secretary Anjuly Chib Duggal, and four deputy governors of the central bank.
RBI started to introduce new high value notes in the banking system after over 86 per cent of total currency in circulation were scrapped through demonetisation, a massive anti-black money and anti-counterfeiting measure.