200 Rupees

The 200 rupee denomination was introduced in August 2017, filling a gap between the 100 and 500 notes that became acutely problematic after the November 2016 demonetisation of the 500 and 1000 rupee notes. That overnight withdrawal of roughly 86% of India's currency by value created severe transaction friction at the mid-range level, and the 200 was a direct policy response — not a routine addition to the series.

The note carries a fluorescent optical band and an electrotype watermark, with the security thread shifting between green and blue under movement — relatively conventional for the Mahatma Gandhi New Series, though the 200 was the last of the new denominations to actually reach wide circulation after its announcement.