RBI SAYS 99% OF DEMONETISED NOTES RETURNED
After Modi government’s demonetisation exercise last November in 2016, everyone were eager to know how much money got deposited in the banks. RBI in its annual report on Wednesday has released the data stating that 15.28 lakh crore have returned to the central bank by the end of June 2017 after demonetisation out of 15.44 lakhs crore of notes taken out of circulation with demonetisation of Rs 500 and Rs 1000 notes.
RBI said there were as many 588.2 crore of Rs 500 notes both old and new in circulation as of March 31 2017. As of March 31 there were 1,570.7 crore Rs.500 notes in circulation. According to the annual report for the last fiscal year 89 million pieces of the banned Rs. 1,000 totalling Rs 8,900 crore had not been returned,out of 6,858 million such notes.
HIGHLIGHTS
- RBI in its annual report on Wednesday has released the data stating that 15.28 lakh crore have returned to the central bank by the end of June 2017 after demonetisation out of 15.44 lakhs crore of notes taken out of circulation with demonetisation of Rs 500 and Rs 1000 notes.
- RBI says 99% of demonetised notes returned
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