99% of Scrapped Notes Back in System: RBI

KalingaTV News Network

99% of Scrapped Notes Came Back into System after DemonetisationBhubaneswar: The Reserve Bank of India (RBI) on Wednesday revealed in its annual report that Rs 15.28 lakh crore, or 99 per cent of the Rs 15.44 lakh crore in higher denomination currency that was rendered invalid on November 8, 2016, has come back into the banking system.

The central bank said that about 89 million units of the demonetised Rs 1,000 notes, worth Rs 8,900 crore, did not come back into the system.

This is the first time the RBI revealed details on the demonetised notes after Prime Minister Narendra Modi scrapped old Rs 1000 and Rs 500 currency notes in November last year.

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