Issue 200 currency notes, industry chamber urges Govt

The All India Association of Industries (AIAI) on Thursday urged the government to come out with new Rs 200 currency notes to help tide over the ongoing crisis following demonetisation of Rs 500 and Rs 1,000 notes.
Issue 200 currency notes, industry chamber urges Govt
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The All India Association of Industries (AIAI) on Thursday urged the government to come out with new Rs 200 currency notes to help tide over the ongoing crisis following demonetisation of Rs 500 and Rs 1,000 notes.

AIAI President Vijay Kalantri, while lauding demonetisation, said though the announcement was well received, its impact was felt only later as the people panicked and queued up outside banks and ATMs.

"Banks are not ready with enough supply of smaller denomination notes and the common man is facing severe problems in day-to-day transactions of the (new) high-denomination Rs 2,000 notes," he said.

Moreover, the new Rs 2,000 notes are smaller in size compared to the old notes and the ATMs have not been calibrated to dispense them with the results that they can store less cash and that too gets exhausted quickly.

In view of the practical difficulties for the people, Kalantri said the government should consider introducing Rs 200 currency notes which can ease the waiting period, without the fear of this denomination becoming counterfeit. 

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