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<link rel="canonical" href="https://im4change.in/<pre class="cake-error"><a href="javascript:void(0);" onclick="document.getElementById('cakeErr67fa9885ec9e1-trace').style.display = (document.getElementById('cakeErr67fa9885ec9e1-trace').style.display == 'none' ? '' : 'none');"><b>Notice</b> (8)</a>: Undefined variable: urlPrefix [<b>APP/Template/Layout/printlayout.ctp</b>, line <b>8</b>]<div id="cakeErr67fa9885ec9e1-trace" class="cake-stack-trace" style="display: none;"><a href="javascript:void(0);" onclick="document.getElementById('cakeErr67fa9885ec9e1-code').style.display = (document.getElementById('cakeErr67fa9885ec9e1-code').style.display == 'none' ? '' : 'none')">Code</a> <a href="javascript:void(0);" onclick="document.getElementById('cakeErr67fa9885ec9e1-context').style.display = (document.getElementById('cakeErr67fa9885ec9e1-context').style.display == 'none' ? '' : 'none')">Context</a><pre id="cakeErr67fa9885ec9e1-code" class="cake-code-dump" style="display: none;"><code><span style="color: #000000"><span style="color: #0000BB"></span><span style="color: #007700"><</span><span style="color: #0000BB">head</span><span style="color: #007700">>
</span></span></code>
<span class="code-highlight"><code><span style="color: #000000"> <link rel="canonical" href="<span style="color: #0000BB"><?php </span><span style="color: #007700">echo </span><span style="color: #0000BB">Configure</span><span style="color: #007700">::</span><span style="color: #0000BB">read</span><span style="color: #007700">(</span><span style="color: #DD0000">'SITE_URL'</span><span style="color: #007700">); </span><span style="color: #0000BB">?><?php </span><span style="color: #007700">echo </span><span style="color: #0000BB">$urlPrefix</span><span style="color: #007700">;</span><span style="color: #0000BB">?><?php </span><span style="color: #007700">echo </span><span style="color: #0000BB">$article_current</span><span style="color: #007700">-></span><span style="color: #0000BB">category</span><span style="color: #007700">-></span><span style="color: #0000BB">slug</span><span style="color: #007700">; </span><span style="color: #0000BB">?></span>/<span style="color: #0000BB"><?php </span><span style="color: #007700">echo </span><span style="color: #0000BB">$article_current</span><span style="color: #007700">-></span><span style="color: #0000BB">seo_url</span><span style="color: #007700">; </span><span style="color: #0000BB">?></span>.html"/>
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<em>Mumbai: </em>Close to 99.40 per cent of specified bank notes (SBNs) of Rs 500 and Rs 1,000 denominations, which were scrapped in the November-December 2016 period, have been returned from circulation, according to the Reserve Bank of India's annual report.<br />
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<br />
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<br />
The Modi Government had scrapped the SBNs to clamp down on corruption and black money, cut off terrorist financing and tackle fake Indian currency notes. But with almost all the money coming back, experts wonder whether the purpose of demonetisation has been served.<br />
<br />
The report said during the year (2017-18), 27.7 billion pieces of banknotes were disposed against 12.5 billion pieces last year, mainly on account of accelerated processing of SBNs of Rs 500 and Rs 1,000 denominations.<br />
<br />
Please <a href="https://www.thehindubusinessline.com/money-and-banking/9940-of-demonetised-currency-return-back-from-circulation-rbi/article24808276.ece">click here</a> to access.
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Cake\View\View::_render() - CORE/src/View/View.php, line 1374
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Cake\View\View::render() - CORE/src/View/View.php, line 885
Cake\Controller\Controller::render() - CORE/src/Controller/Controller.php, line 791
Cake\Http\ActionDispatcher::_invoke() - CORE/src/Http/ActionDispatcher.php, line 126
Cake\Http\ActionDispatcher::dispatch() - CORE/src/Http/ActionDispatcher.php, line 94
Cake\Http\BaseApplication::__invoke() - CORE/src/Http/BaseApplication.php, line 235
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Cake\Routing\Middleware\RoutingMiddleware::__invoke() - CORE/src/Routing/Middleware/RoutingMiddleware.php, line 162
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
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Value of banknotes in circulation increased to Rs 18.03 lakh crore as at end-March 2018
Mumbai: Close to 99.40 per cent of specified bank notes (SBNs) of Rs 500 and Rs 1,000 denominations, which were scrapped in the..."/>
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<strong>99.40% of demonetised notes returned: RBI</strong></h1>
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-The Hindu Business Line<br /><div align="justify"><br /><em>Value of banknotes in circulation increased to Rs 18.03 lakh crore as at end-March 2018<br /></em><br /><em>Mumbai: </em>Close to 99.40 per cent of specified bank notes (SBNs) of Rs 500 and Rs 1,000 denominations, which were scrapped in the November-December 2016 period, have been returned from circulation, according to the Reserve Bank of India's annual report.<br /><br />The report pegged the total SBNs returned from circulation at Rs 15.31 lakh crore. On November 8, 2016, when the demonetisation process kicked-in, currency notes of denominations of Rs 1,000 and Rs 500 (SBNs), valued at Rs 15.4 lakh crore and constituting 86.9 per cent of the value of total notes in circulation were demonetised (scrapped).<br /><br />The Modi Government had scrapped the SBNs to clamp down on corruption and black money, cut off terrorist financing and tackle fake Indian currency notes. But with almost all the money coming back, experts wonder whether the purpose of demonetisation has been served.<br /><br />The report said during the year (2017-18), 27.7 billion pieces of banknotes were disposed against 12.5 billion pieces last year, mainly on account of accelerated processing of SBNs of Rs 500 and Rs 1,000 denominations.<br /><br />Please <a href="https://www.thehindubusinessline.com/money-and-banking/9940-of-demonetised-currency-return-back-from-circulation-rbi/article24808276.ece" title="https://www.thehindubusinessline.com/money-and-banking/9940-of-demonetised-currency-return-back-from-circulation-rbi/article24808276.ece">click here</a> to access.</div> </font>
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<link rel="canonical" href="https://im4change.in/<pre class="cake-error"><a href="javascript:void(0);" onclick="document.getElementById('cakeErr67fa9885ec9e1-trace').style.display = (document.getElementById('cakeErr67fa9885ec9e1-trace').style.display == 'none' ? '' : 'none');"><b>Notice</b> (8)</a>: Undefined variable: urlPrefix [<b>APP/Template/Layout/printlayout.ctp</b>, line <b>8</b>]<div id="cakeErr67fa9885ec9e1-trace" class="cake-stack-trace" style="display: none;"><a href="javascript:void(0);" onclick="document.getElementById('cakeErr67fa9885ec9e1-code').style.display = (document.getElementById('cakeErr67fa9885ec9e1-code').style.display == 'none' ? '' : 'none')">Code</a> <a href="javascript:void(0);" onclick="document.getElementById('cakeErr67fa9885ec9e1-context').style.display = (document.getElementById('cakeErr67fa9885ec9e1-context').style.display == 'none' ? '' : 'none')">Context</a><pre id="cakeErr67fa9885ec9e1-code" class="cake-code-dump" style="display: none;"><code><span style="color: #000000"><span style="color: #0000BB"></span><span style="color: #007700"><</span><span style="color: #0000BB">head</span><span style="color: #007700">>
</span></span></code>
<span class="code-highlight"><code><span style="color: #000000"> <link rel="canonical" href="<span style="color: #0000BB"><?php </span><span style="color: #007700">echo </span><span style="color: #0000BB">Configure</span><span style="color: #007700">::</span><span style="color: #0000BB">read</span><span style="color: #007700">(</span><span style="color: #DD0000">'SITE_URL'</span><span style="color: #007700">); </span><span style="color: #0000BB">?><?php </span><span style="color: #007700">echo </span><span style="color: #0000BB">$urlPrefix</span><span style="color: #007700">;</span><span style="color: #0000BB">?><?php </span><span style="color: #007700">echo </span><span style="color: #0000BB">$article_current</span><span style="color: #007700">-></span><span style="color: #0000BB">category</span><span style="color: #007700">-></span><span style="color: #0000BB">slug</span><span style="color: #007700">; </span><span style="color: #0000BB">?></span>/<span style="color: #0000BB"><?php </span><span style="color: #007700">echo </span><span style="color: #0000BB">$article_current</span><span style="color: #007700">-></span><span style="color: #0000BB">seo_url</span><span style="color: #007700">; </span><span style="color: #0000BB">?></span>.html"/>
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<code><span style="color: #000000"><span style="color: #0000BB"> </span><span style="color: #007700"><</span><span style="color: #0000BB">meta http</span><span style="color: #007700">-</span><span style="color: #0000BB">equiv</span><span style="color: #007700">=</span><span style="color: #DD0000">"Content-Type" </span><span style="color: #0000BB">content</span><span style="color: #007700">=</span><span style="color: #DD0000">"text/html; charset=utf-8"</span><span style="color: #007700">/>
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'description' => '-The Hindu Business Line<br />
<div align="justify">
<br />
<em>Value of banknotes in circulation increased to Rs 18.03 lakh crore as at end-March 2018<br />
</em><br />
<em>Mumbai: </em>Close to 99.40 per cent of specified bank notes (SBNs) of Rs 500 and Rs 1,000 denominations, which were scrapped in the November-December 2016 period, have been returned from circulation, according to the Reserve Bank of India's annual report.<br />
<br />
The report pegged the total SBNs returned from circulation at Rs 15.31 lakh crore. On November 8, 2016, when the demonetisation process kicked-in, currency notes of denominations of Rs 1,000 and Rs 500 (SBNs), valued at Rs 15.4 lakh crore and constituting 86.9 per cent of the value of total notes in circulation were demonetised (scrapped).<br />
<br />
The Modi Government had scrapped the SBNs to clamp down on corruption and black money, cut off terrorist financing and tackle fake Indian currency notes. But with almost all the money coming back, experts wonder whether the purpose of demonetisation has been served.<br />
<br />
The report said during the year (2017-18), 27.7 billion pieces of banknotes were disposed against 12.5 billion pieces last year, mainly on account of accelerated processing of SBNs of Rs 500 and Rs 1,000 denominations.<br />
<br />
Please <a href="https://www.thehindubusinessline.com/money-and-banking/9940-of-demonetised-currency-return-back-from-circulation-rbi/article24808276.ece">click here</a> to access.
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<em>Value of banknotes in circulation increased to Rs 18.03 lakh crore as at end-March 2018<br />
</em><br />
<em>Mumbai: </em>Close to 99.40 per cent of specified bank notes (SBNs) of Rs 500 and Rs 1,000 denominations, which were scrapped in the November-December 2016 period, have been returned from circulation, according to the Reserve Bank of India's annual report.<br />
<br />
The report pegged the total SBNs returned from circulation at Rs 15.31 lakh crore. On November 8, 2016, when the demonetisation process kicked-in, currency notes of denominations of Rs 1,000 and Rs 500 (SBNs), valued at Rs 15.4 lakh crore and constituting 86.9 per cent of the value of total notes in circulation were demonetised (scrapped).<br />
<br />
The Modi Government had scrapped the SBNs to clamp down on corruption and black money, cut off terrorist financing and tackle fake Indian currency notes. But with almost all the money coming back, experts wonder whether the purpose of demonetisation has been served.<br />
<br />
The report said during the year (2017-18), 27.7 billion pieces of banknotes were disposed against 12.5 billion pieces last year, mainly on account of accelerated processing of SBNs of Rs 500 and Rs 1,000 denominations.<br />
<br />
Please <a href="https://www.thehindubusinessline.com/money-and-banking/9940-of-demonetised-currency-return-back-from-circulation-rbi/article24808276.ece">click here</a> to access.
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Cake\View\View::_evaluate() - CORE/src/View/View.php, line 1413
Cake\View\View::_render() - CORE/src/View/View.php, line 1374
Cake\View\View::renderLayout() - CORE/src/View/View.php, line 927
Cake\View\View::render() - CORE/src/View/View.php, line 885
Cake\Controller\Controller::render() - CORE/src/Controller/Controller.php, line 791
Cake\Http\ActionDispatcher::_invoke() - CORE/src/Http/ActionDispatcher.php, line 126
Cake\Http\ActionDispatcher::dispatch() - CORE/src/Http/ActionDispatcher.php, line 94
Cake\Http\BaseApplication::__invoke() - CORE/src/Http/BaseApplication.php, line 235
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Routing\Middleware\RoutingMiddleware::__invoke() - CORE/src/Routing/Middleware/RoutingMiddleware.php, line 162
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Routing\Middleware\AssetMiddleware::__invoke() - CORE/src/Routing/Middleware/AssetMiddleware.php, line 88
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Error\Middleware\ErrorHandlerMiddleware::__invoke() - CORE/src/Error/Middleware/ErrorHandlerMiddleware.php, line 96
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Http\Runner::run() - CORE/src/Http/Runner.php, line 51</pre></div></pre>latest-news-updates/99-40-of-demonetised-notes-returned-rbi-4685402.html"/>
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<meta name="description" content="-The Hindu Business Line
Value of banknotes in circulation increased to Rs 18.03 lakh crore as at end-March 2018
Mumbai: Close to 99.40 per cent of specified bank notes (SBNs) of Rs 500 and Rs 1,000 denominations, which were scrapped in the..."/>
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<strong>99.40% of demonetised notes returned: RBI</strong></h1>
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-The Hindu Business Line<br /><div align="justify"><br /><em>Value of banknotes in circulation increased to Rs 18.03 lakh crore as at end-March 2018<br /></em><br /><em>Mumbai: </em>Close to 99.40 per cent of specified bank notes (SBNs) of Rs 500 and Rs 1,000 denominations, which were scrapped in the November-December 2016 period, have been returned from circulation, according to the Reserve Bank of India's annual report.<br /><br />The report pegged the total SBNs returned from circulation at Rs 15.31 lakh crore. On November 8, 2016, when the demonetisation process kicked-in, currency notes of denominations of Rs 1,000 and Rs 500 (SBNs), valued at Rs 15.4 lakh crore and constituting 86.9 per cent of the value of total notes in circulation were demonetised (scrapped).<br /><br />The Modi Government had scrapped the SBNs to clamp down on corruption and black money, cut off terrorist financing and tackle fake Indian currency notes. But with almost all the money coming back, experts wonder whether the purpose of demonetisation has been served.<br /><br />The report said during the year (2017-18), 27.7 billion pieces of banknotes were disposed against 12.5 billion pieces last year, mainly on account of accelerated processing of SBNs of Rs 500 and Rs 1,000 denominations.<br /><br />Please <a href="https://www.thehindubusinessline.com/money-and-banking/9940-of-demonetised-currency-return-back-from-circulation-rbi/article24808276.ece" title="https://www.thehindubusinessline.com/money-and-banking/9940-of-demonetised-currency-return-back-from-circulation-rbi/article24808276.ece">click here</a> to access.</div> </font>
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<link rel="canonical" href="https://im4change.in/<pre class="cake-error"><a href="javascript:void(0);" onclick="document.getElementById('cakeErr67fa9885ec9e1-trace').style.display = (document.getElementById('cakeErr67fa9885ec9e1-trace').style.display == 'none' ? '' : 'none');"><b>Notice</b> (8)</a>: Undefined variable: urlPrefix [<b>APP/Template/Layout/printlayout.ctp</b>, line <b>8</b>]<div id="cakeErr67fa9885ec9e1-trace" class="cake-stack-trace" style="display: none;"><a href="javascript:void(0);" onclick="document.getElementById('cakeErr67fa9885ec9e1-code').style.display = (document.getElementById('cakeErr67fa9885ec9e1-code').style.display == 'none' ? '' : 'none')">Code</a> <a href="javascript:void(0);" onclick="document.getElementById('cakeErr67fa9885ec9e1-context').style.display = (document.getElementById('cakeErr67fa9885ec9e1-context').style.display == 'none' ? '' : 'none')">Context</a><pre id="cakeErr67fa9885ec9e1-code" class="cake-code-dump" style="display: none;"><code><span style="color: #000000"><span style="color: #0000BB"></span><span style="color: #007700"><</span><span style="color: #0000BB">head</span><span style="color: #007700">>
</span></span></code>
<span class="code-highlight"><code><span style="color: #000000"> <link rel="canonical" href="<span style="color: #0000BB"><?php </span><span style="color: #007700">echo </span><span style="color: #0000BB">Configure</span><span style="color: #007700">::</span><span style="color: #0000BB">read</span><span style="color: #007700">(</span><span style="color: #DD0000">'SITE_URL'</span><span style="color: #007700">); </span><span style="color: #0000BB">?><?php </span><span style="color: #007700">echo </span><span style="color: #0000BB">$urlPrefix</span><span style="color: #007700">;</span><span style="color: #0000BB">?><?php </span><span style="color: #007700">echo </span><span style="color: #0000BB">$article_current</span><span style="color: #007700">-></span><span style="color: #0000BB">category</span><span style="color: #007700">-></span><span style="color: #0000BB">slug</span><span style="color: #007700">; </span><span style="color: #0000BB">?></span>/<span style="color: #0000BB"><?php </span><span style="color: #007700">echo </span><span style="color: #0000BB">$article_current</span><span style="color: #007700">-></span><span style="color: #0000BB">seo_url</span><span style="color: #007700">; </span><span style="color: #0000BB">?></span>.html"/>
</span></code></span>
<code><span style="color: #000000"><span style="color: #0000BB"> </span><span style="color: #007700"><</span><span style="color: #0000BB">meta http</span><span style="color: #007700">-</span><span style="color: #0000BB">equiv</span><span style="color: #007700">=</span><span style="color: #DD0000">"Content-Type" </span><span style="color: #0000BB">content</span><span style="color: #007700">=</span><span style="color: #DD0000">"text/html; charset=utf-8"</span><span style="color: #007700">/>
</span></span></code></pre><pre id="cakeErr67fa9885ec9e1-context" class="cake-context" style="display: none;">$viewFile = '/home/brlfuser/public_html/src/Template/Layout/printlayout.ctp'
$dataForView = [
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'id' => (int) 37284,
'title' => '99.40% of demonetised notes returned: RBI',
'subheading' => '',
'description' => '-The Hindu Business Line<br />
<div align="justify">
<br />
<em>Value of banknotes in circulation increased to Rs 18.03 lakh crore as at end-March 2018<br />
</em><br />
<em>Mumbai: </em>Close to 99.40 per cent of specified bank notes (SBNs) of Rs 500 and Rs 1,000 denominations, which were scrapped in the November-December 2016 period, have been returned from circulation, according to the Reserve Bank of India's annual report.<br />
<br />
The report pegged the total SBNs returned from circulation at Rs 15.31 lakh crore. On November 8, 2016, when the demonetisation process kicked-in, currency notes of denominations of Rs 1,000 and Rs 500 (SBNs), valued at Rs 15.4 lakh crore and constituting 86.9 per cent of the value of total notes in circulation were demonetised (scrapped).<br />
<br />
The Modi Government had scrapped the SBNs to clamp down on corruption and black money, cut off terrorist financing and tackle fake Indian currency notes. But with almost all the money coming back, experts wonder whether the purpose of demonetisation has been served.<br />
<br />
The report said during the year (2017-18), 27.7 billion pieces of banknotes were disposed against 12.5 billion pieces last year, mainly on account of accelerated processing of SBNs of Rs 500 and Rs 1,000 denominations.<br />
<br />
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<br />
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<br />
Please <a href="https://www.thehindubusinessline.com/money-and-banking/9940-of-demonetised-currency-return-back-from-circulation-rbi/article24808276.ece">click here</a> to access.
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<strong>99.40% of demonetised notes returned: RBI</strong></h1>
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-The Hindu Business Line<br /><div align="justify"><br /><em>Value of banknotes in circulation increased to Rs 18.03 lakh crore as at end-March 2018<br /></em><br /><em>Mumbai: </em>Close to 99.40 per cent of specified bank notes (SBNs) of Rs 500 and Rs 1,000 denominations, which were scrapped in the November-December 2016 period, have been returned from circulation, according to the Reserve Bank of India's annual report.<br /><br />The report pegged the total SBNs returned from circulation at Rs 15.31 lakh crore. On November 8, 2016, when the demonetisation process kicked-in, currency notes of denominations of Rs 1,000 and Rs 500 (SBNs), valued at Rs 15.4 lakh crore and constituting 86.9 per cent of the value of total notes in circulation were demonetised (scrapped).<br /><br />The Modi Government had scrapped the SBNs to clamp down on corruption and black money, cut off terrorist financing and tackle fake Indian currency notes. But with almost all the money coming back, experts wonder whether the purpose of demonetisation has been served.<br /><br />The report said during the year (2017-18), 27.7 billion pieces of banknotes were disposed against 12.5 billion pieces last year, mainly on account of accelerated processing of SBNs of Rs 500 and Rs 1,000 denominations.<br /><br />Please <a href="https://www.thehindubusinessline.com/money-and-banking/9940-of-demonetised-currency-return-back-from-circulation-rbi/article24808276.ece" title="https://www.thehindubusinessline.com/money-and-banking/9940-of-demonetised-currency-return-back-from-circulation-rbi/article24808276.ece">click here</a> to access.</div> </font>
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<em>Mumbai: </em>Close to 99.40 per cent of specified bank notes (SBNs) of Rs 500 and Rs 1,000 denominations, which were scrapped in the November-December 2016 period, have been returned from circulation, according to the Reserve Bank of India's annual report.<br />
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<br />
The Modi Government had scrapped the SBNs to clamp down on corruption and black money, cut off terrorist financing and tackle fake Indian currency notes. But with almost all the money coming back, experts wonder whether the purpose of demonetisation has been served.<br />
<br />
The report said during the year (2017-18), 27.7 billion pieces of banknotes were disposed against 12.5 billion pieces last year, mainly on account of accelerated processing of SBNs of Rs 500 and Rs 1,000 denominations.<br />
<br />
Please <a href="https://www.thehindubusinessline.com/money-and-banking/9940-of-demonetised-currency-return-back-from-circulation-rbi/article24808276.ece">click here</a> to access.
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<em>Value of banknotes in circulation increased to Rs 18.03 lakh crore as at end-March 2018<br />
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<em>Mumbai: </em>Close to 99.40 per cent of specified bank notes (SBNs) of Rs 500 and Rs 1,000 denominations, which were scrapped in the November-December 2016 period, have been returned from circulation, according to the Reserve Bank of India's annual report.<br />
<br />
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<br />
The Modi Government had scrapped the SBNs to clamp down on corruption and black money, cut off terrorist financing and tackle fake Indian currency notes. But with almost all the money coming back, experts wonder whether the purpose of demonetisation has been served.<br />
<br />
The report said during the year (2017-18), 27.7 billion pieces of banknotes were disposed against 12.5 billion pieces last year, mainly on account of accelerated processing of SBNs of Rs 500 and Rs 1,000 denominations.<br />
<br />
Please <a href="https://www.thehindubusinessline.com/money-and-banking/9940-of-demonetised-currency-return-back-from-circulation-rbi/article24808276.ece">click here</a> to access.
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Value of banknotes in circulation increased to Rs 18.03 lakh crore as at end-March 2018
Mumbai: Close to 99.40 per cent of specified bank notes (SBNs) of Rs 500 and Rs 1,000 denominations, which were scrapped in the...'
$disp = '-The Hindu Business Line<br /><div align="justify"><br /><em>Value of banknotes in circulation increased to Rs 18.03 lakh crore as at end-March 2018<br /></em><br /><em>Mumbai: </em>Close to 99.40 per cent of specified bank notes (SBNs) of Rs 500 and Rs 1,000 denominations, which were scrapped in the November-December 2016 period, have been returned from circulation, according to the Reserve Bank of India's annual report.<br /><br />The report pegged the total SBNs returned from circulation at Rs 15.31 lakh crore. On November 8, 2016, when the demonetisation process kicked-in, currency notes of denominations of Rs 1,000 and Rs 500 (SBNs), valued at Rs 15.4 lakh crore and constituting 86.9 per cent of the value of total notes in circulation were demonetised (scrapped).<br /><br />The Modi Government had scrapped the SBNs to clamp down on corruption and black money, cut off terrorist financing and tackle fake Indian currency notes. But with almost all the money coming back, experts wonder whether the purpose of demonetisation has been served.<br /><br />The report said during the year (2017-18), 27.7 billion pieces of banknotes were disposed against 12.5 billion pieces last year, mainly on account of accelerated processing of SBNs of Rs 500 and Rs 1,000 denominations.<br /><br />Please <a href="https://www.thehindubusinessline.com/money-and-banking/9940-of-demonetised-currency-return-back-from-circulation-rbi/article24808276.ece" title="https://www.thehindubusinessline.com/money-and-banking/9940-of-demonetised-currency-return-back-from-circulation-rbi/article24808276.ece">click here</a> to access.</div>'
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Value of banknotes in circulation increased to Rs 18.03 lakh crore as at end-March 2018
Mumbai: Close to 99.40 per cent of specified bank notes (SBNs) of Rs 500 and Rs 1,000 denominations, which were scrapped in the November-December 2016 period, have been returned from circulation, according to the Reserve Bank of India's annual report.
The report pegged the total SBNs returned from circulation at Rs 15.31 lakh crore. On November 8, 2016, when the demonetisation process kicked-in, currency notes of denominations of Rs 1,000 and Rs 500 (SBNs), valued at Rs 15.4 lakh crore and constituting 86.9 per cent of the value of total notes in circulation were demonetised (scrapped).
The Modi Government had scrapped the SBNs to clamp down on corruption and black money, cut off terrorist financing and tackle fake Indian currency notes. But with almost all the money coming back, experts wonder whether the purpose of demonetisation has been served.
The report said during the year (2017-18), 27.7 billion pieces of banknotes were disposed against 12.5 billion pieces last year, mainly on account of accelerated processing of SBNs of Rs 500 and Rs 1,000 denominations.
