You are here: Home » Economy & Policy » News » Demonetisation
Business Standard

99.3% of demonetised notes are back; Rs 15.31 trillion returned, says RBI

500- and 1000-rupee notes worth Rs 15.41 trillion were demonetised

Press Trust of India  |  New Delhi 

Demonetisation: Flawed in planning, not in principle

As many as 99.3 per cent of the old 500 and 1,000 notes, that was banned overnight in November 2016, have been returned, the said in its annual report.

Of the Rs 15.41 trillion worth 500 and 1,000 notes in circulation before November 8, 2016, notes worth Rs 15.31 trillion have been returned.

The "humungous task of processing and verification of specified (SBNs) was successfully achieved," it said.

The SBNs received were verified, counted and processed in the sophisticated high-speed verification and processing system (CVPS) for accuracy and genuineness and then shredded, it added.

SBNs refer to the demonetised old 500 and 1,000

RBI said the processing of SBNs has since been completed. "The total SBNs returned from circulation is Rs 15,310.73 billion".

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

First Published: Wed, August 29 2018. 13:00 IST