RBI releases Demonitization Details

Mumbai Aug 31: A much-awaited data was released yesterday.The Reserve bank of India has submitted the Annual Report for the year 2016-17. The Annual report has revealed the data on various issues related to the banking sector.The major highlights of the data are

* There was value of RS 15.44 lakh crore of RS 500 and RS 1000 notes in Circulation on November 8, 2016.

* 99 % of the notes have been deposited back into the banks since demonetization.

* Rs 15.28 lakh crore has been deposited into the bank after demonetization.

* The report doesn't include a number of notes returned to bank by DCBs.



* Rs 7,965 crore was the cost required for printing new RS 2000 and Rs 500 notes.

* 46 % notes were Rs 500 and 40 % were Rs 1000 notes.

* Only 1.4 % of RS 1000 notes have not returned.

* The figure of deposits of old Rs 500 notes were not released

* RS 8900 crores of RS 1000 notes were not deposited.

* Total Rs 16000 crores have not returned to the banks.

* The share of Rs 2000 note in circulation in March was slightly more than 50 %.

* The overall currency in circulation into the system had come down by 20.2 per cent.

Finally, Experts have criticised the government and said that there was not much gain from demonitization as expected initially.