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Demonetised Money Returns to RBI

Near about 99.30% Of Demonetised Money Returns to RBI, Report Shows

The banned currency in India during demonetisation was returned to the Reserve Bank of India, the central bank’s annual report for 2017-18 shows.

* The processing of SBNs (Specified Bank Notes) has since been completed at all centres of the Reserve Bank. The total SBNs returned from circulation is Rs 15,310.73 billion.

* The total value of SBNs in circulation as on Nov. 8, 2016, post verification and reconciliation, was Rs 15,417.93 billion. The total value of SBNs returned from circulation is Rs 15,310.73 billion.

* The value of banknotes in circulation increased by 37.7 percent over the year to Rs 18,037 billion as at end-March 2018. The volume of banknotes, however, increased by 2.1 percent. In value terms, the share of Rs 500 and Rs 2,000 banknotes, which had together accounted for 72.7 percent of the total value of banknotes in circulation at end-March 2017, increased to 80.2 percent as at end-March 2018.

* The balance under this head (miscellaneous) increased by 587.89 percent from Rs 18.74 billion as on June 30, 2017 to Rs 128.91 billion as on June 30, 2018. The increase was mainly on account of transfer of Rs 107.20 billion to ‘Other Liabilities and Provisions’ representing the value of Specified Bank Notes (SBNs) which have not been paid and were part of liability head ‘Notes issued’.

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