Distribution of Banknotes during November 10 to December 19, 2016
Date : Dec 21, 2016Online GST Certification Course by TaxGuru & MSME- Click here to Join
Consequent to the announcement of withdrawal of Legal Tender status of banknotes of Rs. 500 and Rs. 1000 denominations from the midnight of November 8, 2016, the Reserve Bank of India made arrangements for supply of adequate quantity of banknotes in various denominations to the public through the banks.
Over the period from November 10, 2016 upto December 19, 2016, banks have reported that banknotes worth ₹ 5,92,613 crore have been issued to public either over the counter or through ATMs.
In this period, the Reserve Bank has issued to the banks and their branches, for distribution to the public, a total of 22.6 billion pieces of notes of various denominations of which 20.4 billion pieces belonged to small denominations of Rs. 10, 20, 50 and 100s and 2.2 billion belonged to higher denominations of Rs. 2000 and Rs. 500.
Press Release : 2016-2017/1602