99.3% of Demonetised Currency returned to banks: RBI

ONI Bureau:  Around 99.3% of the old Rs 500 and Rs. 1,000 notes, which were banned during demonetisation in November 2016, have been returned to the banks, the Reserve Bank of India said in its annual report.

As per RBI’s annual report, out of total Rs 15.41 lakh crore Rs 500 and Rs 1,000 old junked notes in circulation on November 8, 2016, when the note ban was announced, notes worth Rs 15.31 lakh crore have been returned to the banking system. That means only Rs 10,720 crore of the junked currency did not return to the system.