Rs 75,000 Crore Worth Of Old Notes are Still Not Returned to Banks.While the late of the Depositing as December 31st depositing demonetized Currency is over and now the reports Suggests the Government now has about 94% of the old Currency Notes of rs 500/- and rs 1,000/- notes are still Un-returned to the banks and still while the rest.
Latest reports says that Rs 14.5 lakh Crore have been refunded to the banks.
We also now know for sure that another Rs 50,000 crore in Old Notes of Rs 500 and Rs 1,000 were already available with all banks and when Prime Minister Narendra Modi announced the Decision to Demonetize the High value Currency.
However there are still some scope more of these notes returning to the Banks and with NRI’s and Some Indian who are in Abroad still Having Time to Exchange Notes.
When Narendra Modi Had announced the Demonetization of Rs 500 and Rs 1000 notes on November 8th of Rs 15.4 Lakh Crore worth of Notes and were in Circulation.
The RBI has about 60 Large Sized Machines that are calibrated to distinguish the Fake and Counterfeit notes from the Wards of Returned Currency.
But Even if they Work for the Last 12 hours these 60 machines are estimated to take 600 days to complete this Operation.