2017-08-07 Mon

The Minister of State for finance Arjun Ram Meghwal stated that notes in circulation on 21st July are at 86% of the pre-demonetisation level. Arrangements for supplying more banknotes in different denominations have been made by the RBI.

Some banknotes received are being processed for numerical accuracy and authenticity through machines to remove reporting errors.

Prime Minister Narendra Modi had demonetized Rs1,000 and Rs500 notes on 8th November 2016 to curb black money, fake currency and corruption. New Rs2,000 and Rs500 notes were released after demonetization.