Currency Worth Rs 4.27 lakh crore issued post demonetization: RBI

Currency Worth Rs 4.27 lakh crore issued post demonetization: RBI The Reserve Bank of India made an announcement on December 9, 2016 that the currency notes worth over Rs 4.27 lakh crore have been issued to public through banks and ATMs after the demonetisation Rs 500 and Rs 1,000 currency notes.The Apex Court also announced that about Rs.11.85 lakh crore demonetized notes have

already been returned in the banking system. The central bank will shortly issue Rs 500 denomination banknotes in the Mahatma Gandhi (New) Series, without any inset letter, bearing signature of Governor Urjit R Patel.

The RBI has also made arrangements for supply of adequate quantity of banknotes in various denominations to the public through banks.

RBI

♦ The Reserve Bank of India (RBI) is India’s central banking institution, which controls the monetary policy of the Indian rupee

♦ Headquarter: Mumbai, Maharashtra

♦ Founded: April 1, 1935, Kolkata

♦ Governor: Urjit Patel