Why ₹200 Banknotes?

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The optimal system of denominations of currency (coins and notes) is one that would minimize the number of denominations and concurrently increase the probability of proffering exact change. So, what should be the optimal mix of currency denominations? Many countries have opted to use a near variation of the Renard Series, i.e., 1:2 or 1:2.5 ratio between adjacent denominations of currency, which means that the denomination should be twice or two and half times of its preceding denomination.
Such a ratio allows exchange of value ordinarily in a maximum of three denominations. In India, we have currency denominations of 1, 2, 5, 10, 20, 50, 100, 500 and 2000. As such, in the lower end of the denomination series, 200 is the missing one.

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