99.3% of demonetized currency returned: RBI

• Over 99% of the ₹500 and ₹ 1000 that were withdrawn from circulation in November 2016 were returned, the Reserve Bank of India said in its annual report.

• According to the report, after verification and reconciliation, the total value of the ₹ 500 and ₹ 1000 as on November 8, 2016, the day before note ban came into effect, was ₹15,417.93 lakh crore. The total value of such notes returned from circulation was ₹ 15,310.73 lakh crore.

• According to RBI data, the value of banknotes in circulation increased by 37.7% over the year to ₹ 18,037 lakh crore as at end of March 2018.

• With more ₹500 notes pumped into the system over the last one year, the share of ₹2,000 notes by value declined to 37.3% as on March 2018 as compared to 50.2% a year ago. The share of ₹500 note, in term of value, increased from 22.5% to 42.9% during the same period.

• The share of newly introduced ₹ 200 banknotes in the total value of banknotes in circulation was 2.1% at end-March 2018.

Money spent post-demo

• Post demonetization, the RBI spend ₹ 7,965 crore in 2016-17 on printing new ₹500 and ₹ 2000 and other denomination notes, more than double the ₹ 3,421 crore spent in the previous year.

• In 2017-18 (July 2017 to June 2018), it spent another ₹ 4,912 crore on the printing of currency.

• Counterfeit notes detected in SBNs decreased by 59.7% and 59.6% in the denominations of ₹ 500 and ₹ 1,000.

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