On 8th of November 2016 as the world anxiously awaited the US election results, India witnessed a sudden jolt as the Prime Minister addressed the Nation regarding the decision to scrap the existent 500 and 1000 rupee notes.
Since November, India as a nation has been trying to adjust to the various economic changes that came into being post the Demonitization exercise.
On the 28th of June, several months after Demonitisation, the Reserve Bank of India along with the Indian Government has decided to introduce 200 rupee bills.
The initiation of 200 rupee bills is going to be the first of it’s kind in the country.
This decision was taken to ease consumer transactions within the country.
The 200 rupee notes are supposed to be printed in a Government-owned facility, as per the order placed by Reserve Bank of India sometime back.
Such an introduction of new current notes exists parellel to the Government’s decision to withdraw 500 and 1000 rupee notes overnight last year, as an exercise to end counterfeiting and curbing black money laundering.
India is Asia’s third largest economy and a decision to make changes to the country’s economy not only affects the citizens within India but also those who engage in trade relations with the country.
RBI board of directions had previously decided to issue 200 rupee notes and now the Government is backing this decision.
Until June 2017, the currency circulation amongst the citizens of the country is marked around Rs. 14 lakh crore, which is a figure of 18% deficit when compared to the pre-demonetisation levels.
Our article and infographic on the different ways to safeguard finances this year tries to build around these sudden economic changes that are being introduced in the country today.
Read More Here : http://stockmarketsignals.com/5-ways-safeguard-finances-year-2/
India’s economy is so dynamic at the moment that predicting any financial changes could prove wrong.
Given the Government’s decision to introduce new currency notes of a lower denomination like 200, it is not hard to assume that this call would be welcomed by most.
Currently, 2000 rupee notes and new 500 rupee notes are in circulation, and this is posing a lot of problems to those in the lower economic stratas as well as everyday commuters / market-goers.
The new notes would be circulated in the similar fashion new 500 and 2000 rupee notes had been introduced – a bit slow at first and within a few months, the balance in note circulation would be retained.
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