After the announcement of a ban on demonetisation by the Prime Minister on November 8 last year, the Reserve Bank of India has given data related to the returning of old notes to government banks. RBI has said that 99% notes of 1000 rupees and 500 rupees have come back after the demonetization.
RBI said that the total notes of 15 lakh 44 thousand crores were banned after demonetisation. Out of these 15 lakh 28 thousand crore rupees are returned to the banks. After the demonetisation, 8.9 crore out of a total of 632.6 crore notes of the old 1,000 rupees have not returned yet.
According to the central bank, 7.62 lakh fake notes were detected in the financial year 2016-17, while 6.32 lakh fake notes were caught in 2015-16. The Reserve Bank said that after demonetisation, the cost of printing of new notes doubled to Rs 7,965 crore, which was Rs 3,421 crore in 2015-16.
