99% Of Banned 1,000-Rupee Notes Returned, Says RBI

[The_Showstopper]

99% Of Banned 1,000-Rupee Notes Returned, Says RBI
Prime Minister Narendra Modi last year in a surprise move banned Rs. 500 and Rs. 1,000 notes to counter black money, with the high denomination notes losing their legal tender status from midnight of November 8.
NDTV Profit Team | Last Updated: August 30, 2017 18:03 (IST)

COMMENTS

632.6 crore pieces of Rs. 1,000 notes were in circulation in March 2016, the RBI said
HIGHLIGHTS

1. RBI says 8.9 crore units of Rs.1,000 note didn't return as of March 2017
2. 632.6 crore Rs. 1,000 notes were in circulation in March 2016, it adds
3. Value of notes in circulation declined by 20.2% year-on-year

The Reserve Bank of India (RBI) in its annual report today revealed that 8.9 crore pieces of Rs. 1,000 notes (1.4 per cent of total Rs. 1,000 notes), worth Rs. 8,900 crore, did not return as of March 2017. The central bank also said 632.6 crore pieces of Rs. 1,000 notes were in circulation in March 2016.

Prime Minister Narendra Modi last year in a surprise move banned Rs. 500 and Rs. 1,000 notes to counter black money, with the high denomination notes losing their legal tender status from midnight of November 8. After the shock note ban decision, the government gave a 50-day window to deposit old notes by December 30, 2016. However, for some other categories of people, like NRIs, the deadline expired on June 30, 2017.

According to a reply given in Rajya Sabha on December 2 by Minister of State for Finance Arjun Ram Meghwal, there were 1,716.5 crore pieces of 500 notes and 685.8 crore pieces of Rs. 1,000 notes in circulation. That amounted to a total of Rs. 15.44 lakh crore in value.

Here are some other highlights from the RBI's annual report:

The value of banknotes in circulation declined by 20.2 per cent over the year to Rs. 13.1 lakh crore as of end-March 2017.

The share of newly-introduced Rs. 2,000 banknotes in total value of banknotes in circulation was 50.2 per cent at end-March 2017.

7.62 lakh pieces of counterfeit currency notes were detected in FY17 as against 6.32 lakh in FY16.

Cost of printing notes doubled to Rs. 7,965 crore in FY17 from Rs. 3,421 crore in FY16 on account of printing of the new currency.

http://profit.ndtv.com/news/economy...veals-rbi-1744008?fb&pfrom=home-lateststories

@baajey @padamchen @Infinity @ashok321 @ranjeet

 

[padamchen]

99% Of Banned 1,000-Rupee Notes Returned, Says RBI
Prime Minister Narendra Modi last year in a surprise move banned Rs. 500 and Rs. 1,000 notes to counter black money, with the high denomination notes losing their legal tender status from midnight of November 8.
NDTV Profit Team | Last Updated: August 30, 2017 18:03 (IST)

COMMENTS

632.6 crore pieces of Rs. 1,000 notes were in circulation in March 2016, the RBI said
HIGHLIGHTS

1. RBI says 8.9 crore units of Rs.1,000 note didn't return as of March 2017
2. 632.6 crore Rs. 1,000 notes were in circulation in March 2016, it adds
3. Value of notes in circulation declined by 20.2% year-on-year

The Reserve Bank of India (RBI) in its annual report today revealed that 8.9 crore pieces of Rs. 1,000 notes (1.4 per cent of total Rs. 1,000 notes), worth Rs. 8,900 crore, did not return as of March 2017. The central bank also said 632.6 crore pieces of Rs. 1,000 notes were in circulation in March 2016.

Prime Minister Narendra Modi last year in a surprise move banned Rs. 500 and Rs. 1,000 notes to counter black money, with the high denomination notes losing their legal tender status from midnight of November 8. After the shock note ban decision, the government gave a 50-day window to deposit old notes by December 30, 2016. However, for some other categories of people, like NRIs, the deadline expired on June 30, 2017.

According to a reply given in Rajya Sabha on December 2 by Minister of State for Finance Arjun Ram Meghwal, there were 1,716.5 crore pieces of 500 notes and 685.8 crore pieces of Rs. 1,000 notes in circulation. That amounted to a total of Rs. 15.44 lakh crore in value.

Here are some other highlights from the RBI's annual report:

The value of banknotes in circulation declined by 20.2 per cent over the year to Rs. 13.1 lakh crore as of end-March 2017.

The share of newly-introduced Rs. 2,000 banknotes in total value of banknotes in circulation was 50.2 per cent at end-March 2017.

7.62 lakh pieces of counterfeit currency notes were detected in FY17 as against 6.32 lakh in FY16.

Cost of printing notes doubled to Rs. 7,965 crore in FY17 from Rs. 3,421 crore in FY16 on account of printing of the new currency.

http://profit.ndtv.com/news/economy...veals-rbi-1744008?fb&pfrom=home-lateststories

@baajey @padamchen @Infinity @ashok321 @ranjeet

I hate to tell you I told you so.

Notice on PDF.

Only the bigots are left.

Not cheering Modi. But the Muslims and Christians and Dalits getting picked on.

There is a palpable disquiet among his cheerleaders now.

Ok, allow me.

I told you so.

Cheers, Doc

 

[ashok321]

Modi demonised on demonetisation = Epic fail

 

[The_Showstopper]

 

[duhastmish]

whete are dumb bhakt.

kahan mar gaye?

bloody idiots blind uneducated dumbwits.

if they accept the failure people might forgive. but no they will never. actually these idiots deserved it.

the riots , medicare, disaster managment, crowd handling, economy law n order everywhere we are loosing.

 

[Suriya]

https://twitter.com/x/status/902891363108364289

https://twitter.com/x/status/902891363108364289

https://twitter.com/x/status/902890099267874816

 

[Kal Muah]

So just because black money came back to the system its all white now? Only leftists can come up with stuff. There is a trail of who deposited how much, what and when into their accounts, and the govt has all the data.
You really did not expect the black money holders to let it all burn or rot away, they would have tried all possible means to get it in.

here's a small database a guy created during demonitisation raids that were happening, which is already 261,35,21,000 :

https://goo.gl/WLfHpz

 

[Dash]

the riots , medicare, disaster managment, crowd handling, economy law n order everywhere we are loosing

There was never a win in these areas except very few occasions during any govt rule. These are more complicated topics. Sometimes it's bureaucracy sometimes it's politics. We were bad and we will be bad for god knows until when.

There is no congress BJP competition here. Everyone is a looser.

 

[Suriya]

https://twitter.com/x/status/902891363108364289

https://twitter.com/x/status/902890099267874816

The idea of DeMonetisation wasn't to see black money burnt down or swept in river Ganga so that they never come back into the system .

Modi said deposits of over 1.75 lakh crore made in banks post demonetisation, and 18 lakh people with income suspected to be beyond their known sources, were under scrutiny. Of the 18 lakh, 4.5 lakh people are now amending their "mistakes", while one lakh "who had neither heard of income tax nor paid income tax have now been forced to do so", the

Demonetisation revealed Rs 3 lakh crore black money, says PM Narendra Modi
http://timesofindia.indiatimes.com/...ays-pm-narendra-modi/articleshow/60078662.cms

 

[padamchen]

Pathetic.

Cheets, Doc

 

[Sky lord]

The only purpose of de-monetization was to empty the coffers of the opposition parties just before the UP election.

It worked. BJP got a massive victory. Not much the opposition can say or do about it - hardly possible to say that they lost stashes of illegal funds due to demonetization.

So Modi -1 Opposition - 0.

 

[pothead]

All these articles cribbing about the demonetization is to stop what's coming in next one year, before the 2019 elections, the withdrawal of 2000 rupee note.

They all now realize this WILL happen and are desperate to stop it.

Guess what folks, it will be done and there is nothing anyone can do anything about it.

 

[duhastmish]

now the bank can give bad loans.
they can charge us to use our own money.

indian bank8ng system is disaster. its like begging for your own money.

some mofo bhakt can come and open his gaddamn mouth here?

 

[pothead]

now the bank can give bad loans.
they can charge us to use our own money.

indian bank8ng system is disaster. its like begging for your own money.

some mofo bhakt can come and open his gaddamn mouth here?

the mofo Hindu hater needs to back and see which mofo govt gave money.
the mofo needs to get his facts straight or the mofo will end up being a joke like pappu.

For your mofo information, dear mofo, it was mofo ManMohan Singh who kept giving mofo Mallya loans. Banks objected but mofo ManMohan is on record telling banks to continue giving mofo Mallaya loans.

Rets now mofo.

 

[pothead]

mofo bhakt will be wiped out. most guys with an iota of brain have left becausr they realised they are made fool.

only sanghi shyt eater who can actually eat even shyt because sangh said so. are still holding their bhakti flags


. but these people who are killing kids , soldiers, women , ruining economy, lynching , cant hold a basic system for flood management, ruining indian foreign relation. they wont be spared.

tu kha beta 3 saal purani. pure veg shyt.

Mofo Hindu hater triggered.
First he said bad loans given by banks and attributed them to Modi.

When exposed that it was his mofo ManMohan and other mofo secular parties that gave the loans to their mofo friends, the usual rhetoric comes out.

unfortunately these mofos don't see Indians are buying these mofo's logic anymore.
you mofo's are gonna be wiped out in 10 years. It will be 2 sanghi parties fighting with you mofo's no where in the picture

kitni 3 saal purani tatti khaye ho uncle. saad gaye ho.

sangh ke chuttad chat ke aye ho ka?