Over 99 per cent of Demonetised Indian Currency Notes Returned: RBI

• Radhakrishna N S
• 29 August, 2018

By: Radhakrishna N S

India’s central bank, Reserve Bank of India (RBI) said on Wednesday (29) that, as many as 99.3 per cent of demonetised currency notes in the denomination of Rs 500 and Rs 1000 have been returned to the banking system after the Indian government banned the currency notes on November 08, 2016 in an attempt to curb black money, counterfeit notes, and corruption in the country. Out of Rs 15,417.93 billion worth Rs 500 and Rs 1000 notes in circulation before November 8, 2016, notes worth Rs 15,310.73 bn have been returned, RBI said in its annual report released for the…

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