99.3% Of Demonetised Currency Back In System: RBI Report
99.3% Of Demonetised Currency Back In System: RBI Report
99.3% of demonetized-notes worth Rs. 15.31-lakh-crore returned to banks: RBI
30 August, 2018, 17:26
Almost 2 years after demonetisation, the Reserve Bank of India (RBI) on Wednesday, in its 2017-18 annual report said that 99.3 percent of banned notes were returned in the banking system.
Of the Rs 15.41 lakh crore worth 500 and 1,000 rupee notes in circulation before November 8, 2016, notes worth Rs 15.31 lakh crore have been returned. Counterfeit notes of Rs 100 denomination continue to dominate the fake Indian currency note (FICN) segment with 45.75 per cent of the fake notes recovered in 2017-18 being of Rs 100 denomination, according to the Reserve Bank of India's (RBI) annual report for the year 2017-18.
Political parties were quick to corner the BJP-led Narendra Modi government that demonetised high-value currency notes to curb black money. "The total value of SBNs returned from circulation is Rs 15,31,073 lakh crore", the central bank said. Verification and process in of the SBNs has been completed. "If that was the objective then yes, it has failed because Rs 13,000 crore is the amount, which is possibly held outside the country in nations such as Nepal, Bhutan, Bangladesh, Burma who simply did not have the facility to exchange the currency", the news channel reported Sen as saying.
Former finance minister P Chidambaram claimed that more than 100 lives were lost and lakhs of jobs were destroyed due to closure of businesses after demonetisation. Lakhs of jobs were destroyed.
Without elaborating further, Garg said that the government has achieved the targets it had set for the demonetisation drive, including checking black money, conterfeit currency and terror funding and encouraging digital transactions. Meanwhile, the central bank may soon come up with varnished notes to increase their lifespan, which would not only reduce replacement requirement but would also save the central bank from security printing expenditure. Instead, a new Rs 2,000 notes were introduced post note ban. Over five lakh shell companies were closed down, he said. "The value share of high denomination currency (Rs 500 and Rs 2,000 notes) in overall currency composition in March 2018 was 80.6 per cent, which is lower than it was in the pre-demonetisation period (86.4 per cent)".
"Compared to the previous year, there was an increase of 35 per cent in counterfeit notes detected in the denomination of Rs 100, while there was a noticeable increase of 154.3 per cent in counterfeit notes detected in the denomination of Rs 50", RBI said adding that counterfeit notes detected in the new Rs 500 and Rs 2,000 notes during 2017-18 were 9,892 and 17,929 as against 199 and 638, respectively, during the previous year.
The RBI, in its previous annual report released, in August 2017 had stated that Rs 15.28 lakh crore, or 99 per cent of the demonetised currencies totally worth Rs 15.44 lakh crore, had returned to the banks by 30 June 2017.
His family shared Friday that McCain wouldn't continue with treatment for his brain cancer , and the senator died the next day. Bush and Obama had been McCain's political opponents, too, blocking his White House ambitions in 2000 and 2008, respectively.
Sally Khattab, the hotel's marketing director, said the hotel had recently passed a Thomas Cook audit with flying colours. Thomas Cook has said it was not ruling anything out but added it found no evidence of carbon monoxide poisoning.
Forces in Korea, has taken steps to mitigate any loss of training by scheduling smaller exercises and staff drills. You can see this disconnect in how serious each side is taking the peace negotiations with North Korea.
However, Benitez , whose team had only 19 per cent of the possession, said: "Possession now is just for the TV, for the stats". He told Chelsea's official website : "It's always great to play football, especially after I was out for six or seven months".
The government uses Facebook to make major announcements, including the resignation of the country's president in March. Rohingya refugees cross the Naf River in Cox's Bazar, Bangladesh on September 12, 2017.
The White House issued no formal statement over the weekend about McCain's death, though one was drafted, according to USA media. Bush - will deliver eulogies Saturday. "Our hearts and prayers are with you!" he wrote on Saturday night.
We have the exact time for the match and where to watch it live, so without any further delay, let us begin with our post. Who are KSI and Logan Paul? At the end of the fight, Logan Paul said that he felt like he won the match.
The body of the legendary singer was to lie in honor for public visitation Tuesday and Wednesday at the museum. Sabrina Owens, Franklin's niece, said she began planning this week's festivities earlier this year.
Harry founded the nonprofit with Prince Seeiso of Lesotho to assist young people affected by HIV in Lesotho and Botswana. Meghan's veil was held in place by a diamond and platinum bandeau tiara, lent to her by Her Majesty The Queen.
He then admitted lying to Harry in a phone call over his staged paparazzi pictures and said that he even hung up on the prince. While, Bogart couldn't accompany Meghan to her new home after marriage, Guy was flown over last November.
Tesla chief Elon Musk unlikely to escape SEC scrutiny
The Securities and Exchange Commission initiated an investigation to learn whether Musk had misled investors about the financing. People close to Musk have said that he might have been "overly simplistic" in his thinking, the New York Times suggests .
Senate leaders request flags stay at half-staff
Trump's remarks-or lack thereof-came after the president and McCain sparred on a variety of topics over the last few years. House of Representatives; and Karrin Taylor Robson, a business leader and lawyer who founded her own land-use company.
John McCain, US war hero and political maverick, passes away
Chris Van Hollen: John McCain's passion and determination were unsurpassed in the Senate, and his moral compass was unfailing". Congressmen from 1983-1987, representing Arizona's first district, and was a Senator from Arizona from 1987 until his death.
Presidents, local lawmakers honor John McCain
Since then tributes have been pouring in for McCain , who was operating as a Senator in America until 2017. Former President Jimmy Carter called McCain "a man of honor, a true patriot in the best sense of the word".
Woods makes mediocre return to FedExCup playoffs
As you could probably guess, just like the playoffs in any other sports, the field from here on out will only get stronger. I shouldn't really have to talk you into liking Rose this week, but he rates the highest across the board in my model.
Game of Thrones Debuts First Season 8 Teaser
According to Metro , showrunners David Benioff and Dan Weiss wanted time to craft the strongest season finale they could. But there is one blink-and-you-will-miss scene in which we see Kit Harington's Jon Snow hug Sophie Turner's Sansa Stark.
'Multiple fatalities' in Florida shooting
Still, we too are extending our thoughts and prayers to the victims in Jacksonville, as well as their entire family. Citing police sources, reports said four people were killed and about 10 wounded.