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Demonetization: RBI Completes Verification, Says 99% Banned Notes Back

September 12, 2018

The Reserve Bank of India (RBI) has completed the tasks of verifying and processing the banned notes nearly two years after demonetization and released the data in their annual report. It said that that the total number of INR 500 and INR 100 notes in circulation before demonetization stood at INR 15.4 lakh crores and the total value of the specified bank notes (SBNs) that were returned now stands at INR 15.3 lakh crores.     

The report said that the central bank expected the GDP to increase to 7.4% but inflation poses various risks. It said that CPI inflation is to face challenges in the remaining part of the financial year.

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