Rs. 200 Notes Launched: Not Available in ATM Now

NEW DELHI:
New Rs. 200 notes entered the banking system today. The central bank, while announcing the move on Thursday, said that the Rs. 200 notes will act as a “missing link” and make it easier for people to transact in lower denomination currency, thereby bringing greater efficiency into the system.
The bright yellow coloured Rs. 200 notes was launched just a day after the finance minister gave go-ahead to the Reserve Bank of India or RBI to issue the new currency bill.
This is the fourth new note to be announced since November, when the Narendra Modi government announced a ban on Rs. 1,000 and Rs. 500 notes to choke tax evaders.
But the notes will not be available at ATMs just yet. The machines have not been reconfigured to handle the new currency. The notes were available today only at select branches of the Reserve Bank of India (RBI) – in cities like Delhi, Mumbai and kolkata – and some other banks.
It may take a few more days, or at least a week, for ATMs to spit out Rs. 200 notes, which are marginally smaller than Rs. 500 notes. The size of cash-holding cassettes inside the machines have to be calibrated by engineers to accommodate the new notes. The process can even take a month.
It is the fourth new note to be announced since Prime Minister Narendra Modi announced an overnight ban on Rs. 1,000 and Rs. 500 notes to choke tax evaders. New Rs. 2000 and Rs. 500 notes were introduced days later. Recently, a fluorescent blue Rs. 50 note entered the market. The government says Rs. 200 notes will inject more low denomination currency in the system.
In keeping with a new policy on theme-based currency, the 200-rupee notes have a motif of the Sanchi Stupa monument, depicting India’s cultural heritage, besides the Ashoka Pillar emblem.
There is a security thread with inscriptions ‘Bharat’ and RBI. The colour of the thread changes from green to blue when the note is tilted.
For the visually-impaired, the Mahatma Gandhi portrait and Ashoka Pillar emblem are raised, besides other special features. The new notes also have a logo of Swachh Bharat or Prime Minister Narendra Modi’s “Clean India” campaign. The design was reportedly approved by the PM’s office.