National

Banks Received 15.28 Lakh Cr Of Rs 15.44 Lakh Cr Demonetised Notes, Says RBI

न्यूज़ वर्ल्ड इंडिया | 0
3395
| August 30 , 2017 , 19:21 IST

Revealing the low efficacy of last November's demonetisation of high-value currency, the RBI said on Wednesday that of the Rs 15.44 lakh crore of notes taken out of circulation, Rs 15.28 lakh crore had returned to the system by way of deposits by the public.

ALSO READ: RBI Cracks Down On Defaulters, Prepares Second List Of 40

According to the Reserve Bank of India's (RBI) annual report for the last fiscal, 89 million pieces of the banned Rs 1,000 totalling Rs 8,900 crore had not been returned, out of 6,700 million such notes. This amounts to 1.3 per cent of the Rs 1,000 notes in circulation before the demonetisation announcement on November 8, 2016.