-The Times of India MUMBAI: The Reserve Bank of India (RBI) on Wednesday said that Rs 15.28 lakh crore --or 99% of the Rs 15.44 lakh crore demonetised by withdrawal of Rs 500 and Rs 1000 notes on November 8, 2016 --has been deposited with banks. The disclosure dashes hopes of the government earning a windfall by extinguishing trillions of rupees worth demonetised currency that has not been returned. In its annual report, the...
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RBI says 98.96% of Rs 500, Rs 1000 notes returned after demonetisation -Gopika Gopakumar
-Livemint.com RBI annual report estimates value of Rs 500 and Rs 1000 notes returned was Rs 15.28 trillion against Rs 15.44 trillion in circulation before demonetisation Mumbai: According to Reserve Bank of India’s (RBI) annual report released Wednesday, 98.96% of Rs 500 and Rs 1000 notes (by value) that were invalidated due to the demonetisation exercise had been returned by the end of June. The numbers put to rest one of the big...
More »Demonetisation: In value, digital deals surge, then dip to 5-month -Sunny Verma & Pranav Mukul
-The Indian Express Demonetisation: On digital transactions, too, RBI data shows that the volume of electronic payments, after peaking in December 2016 at 957.50 million transactions compared with 671.49 million in November, has been on a decline. New Delhi: When it launched the currency withdrawal in November, the NDA government had outlined four key objectives of the demonetisation exercise: detection of black money, elimination of fake currency, squeezing funds available for...
More »99% of junked Rs 500/1000 notes returned to banks: RBI
-PTI As much as 99 per cent of the junked Rs 500 and Rs 1,000 notes have returned to the banking system, RBI said today, prompting opposition to question the efficacy of the government's unprecedented note ban decision to curb black money and corruption. The Reserve Bank, which has so far shied away from disclosing the actual number of junked currency deposited after November 8 last year, said in its Annual Report...
More »Look at the facts of demonetisation, not politics -Kaushik Basu
-The Indian Express Six months later, it is clear that it achieved next to nothing, and inflicted a large cost on the poor and the informal sector. It was six months ago, on November 8, that India hit the headlines the world over, with its sudden demonetisation. It was announced in the evening that, at the stroke of the midnight hour, all bank notes of Rs 500 and Rs 1,000 would cease...
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