Their total value was ₹15.31 lakh crore, shows report.
The Reserve Bank of India’s annual report for 2017-18 said more than 99% of the ₹500 and ₹1,000 notes, which were withdrawn from circulation in November 2016, had been returned to the central bank.
According to the report, after verification and reconciliation, the total value of the ₹500 and ₹1,000 notes as on November 8, 2016, when demonetisation was announced, was ₹15.41 lakh crore. The total value of such notes returned from circulation is ₹15.31 lakh crore. RBI data showed that the value of banknotes in circulation increased by 37.7% over the year to ₹18.04 lakh crore at end March 2018.
More ₹500 notes
This story is from the August 30, 2018 edition of The Hindu.
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This story is from the August 30, 2018 edition of The Hindu.
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