The latest RBI data showed that 98.96% of the withdrawn currency - at the time of demonetisation the value of old ₹500 and ₹1,000 notes in circulation was ₹15.44 lakh crore - was deposited with the banks.
Printing of Rs 2,000-denominated notes stopped at least six months back and now the Rs 200 notes are getting printed at these presses.
According to RBI, it has got back 98.6% of all the old 1000 rupees note. A collateral damage as a result of rise in printing and other cost was dividend RBI pays to the government. "The year ended with an overall surplus of Rs 306.59 billion as against Rs 658.76 billion in the previous year, representing a decline of 53.46 per cent", it said. This means that 89 million (or 8.9 crore) of Rs 1000 notes, which were banned by Centre in November, didn't return to the banks.
Meanwhile, whether the new Rs 1000 notes will be available in ATMs or not and the security features it carries are not yet clear.
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In its report, the RBI has also said that the total value of banknotes in circulation has dropped by 20.2 percent during the a year ago. As many as 328.5 crore pieces of new Rs 2,000 notes were in circulation as on March 31, 2017. Next in line for printing is the Rs 1,000 note.
He also said that the demonetisation scam not only dented institutional sanctity of the RBI, but also credibility of India overseas and demanded an apology from the prime minister. During the year, the National Crime Records Bureau (NCRB), Ministry of Home Affairs, designed a uniform proforma for collection of fake Indian currency note (FICN) data. Barring Rs 100 notes, the detection of counterfeit notes increased across denominations, notably Rs 500 and Rs 1,000 during 2016-17. "The economists deserve Nobel Prize", the senior Congress leader said sarcastically.
The source also said that Rs 2000 currency note was essentially a stop-gap arrangement, to immediately provide relief post-demonetization. "Shame on RBI which "recommended" demonetisation", he tweeted.
He also questioned the Narendra Modi government whether its demonetisation decision was created to convert black money into white.
The Reserve Bank is facilitating implementation of the system in collaboration with NCRB. The value of the SBNs received by the currency chests has been credited to the banks' account on "said to contain basis".