RBI still verifying notes after demonitisation

Even after a year has passed away after Prime Minister Narendra Modi announced demonetisation, the RBI is still verifying the notes of Rs 500 and Rs 1000.

In reply to an RTI query, the central bank said it has processed about 1,134 crore pieces of Rs. 500 notes and 524.90 crore pieces of Rs. 1,000 junked notes, having face value of Rs. 5.67 lakh crore and Rs. 5.24 lakh crore respectively, as on September 30.

Several opposition parties including the Congress and Mamata Banerjee's TMC have announced that they would observe November 8, the first anniversary of demonetisation, as 'Black Day' and would hold protests across the country to highlight its "ill-effects" on the economy.



To counter the opposition protest, the ruling BJP has decided to observe the note ban anniversary as "anti-blackmoney day".

But according to RBI no black money was found and all distributed notes of 500 and 1000 were returned to RBI after demonitisation.