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About 6,857.82 million notes of Rs 1000 and 17,165.06 million notes of Rs 500 valuing separately Rs 685,782 crore and Rs 858,253 crore respectively were scrapped&nbsp;

Key things Modi pointed out on 1-year of demonetisation

Rather, it is using "sophisticated Currency Verification and Processing (CVPS) machines for checking the numerical accuracy and genuiness of the currency notes, including SBNs (Specified&nbsp;Bank Notes that have been scrapped)", the RBI clarified later this evening.

No counting machines, but sophisticated currency verification units being used for scrapped notes: RBI

On November 08, 2016, PM Narendra Modi announced the demonetisation of high denomination notes old Rs 500 and Rs 1000 to tackle black money and terror financing.&nbsp;

How demonetisation dented the RBI

Here are some facts about the printing and other factors that went into the making of the new Rs 500 currency note as given by top officials involved in the issue.

Post note ban, why were new Rs 500 notes late in coming?

As per the Request for Proposal (RFP), the machines should be computer based and microprocessor controlled and capable of processing, counting, sorting and authenticating banknotes into 'fit for circulation', 'unfit for circulation', 'reject notes', 'suspect/forged notes', and 'emission-wise sorting on design and series', among other categories.

RBI to procure 50 note verifying machines

Ministry of Finance has asked the district central co-operative banks to deposit old Rs 500 and Rs 1000 notes with RBI in a time period of 30 days.&nbsp;

Co-operative banks given 30 days time to deposit demonetised notes

RBI has been issuing&nbsp;banknotes in Mahatma Gandhi series from time to time and now it had introduced a new batch of Rs 500 banknotes.&nbsp;

WATCH: What's new in RBI's new series of Rs 500 notes 

In a two-stage process, the weekly withdrawal limit per account had been raised to Rs 50,000, from Rs 24,000, with effect from February 20, and all limits on ATM withdrawals were slated to cease from March 13.

All cash withdrawal limits go back to pre-demonetisation era

To replace the old notes of Rs 500 and Rs 1,000 during demonetisation, the RBI had issued new notes of Rs 500 and Rs 2,000.&nbsp;

No plans to introduce Rs 1000 notes, confirms Shaktikanta Das

"He (Prime Minister Modi) has created transparency and traceability. He has changed the mindset (in such a way that) everybody is going to think twice about going back to their old ways and from what I understand, the conversion to digital has occurred at a pace much faster," Mahindra said at the annual NILF here.

Demonetisation unnecessarily demonised: Aditya Puri

"I am sorry to make the prediction that 2016-17 will end with growth (rate) between 6 and 6.5 per cent, a good one per cent down from the earlier estimate and that means a hit of Rs 1.5 lakh crore on GDP. The GDP this year is Rs 150 lakh crore, so one per cent hit is Rs 1.5 lakh crore," Chidambaram said at a function here today.

Demonetisation 'biggest scam of 2016': Chidambaram

"There are tens of thousands of bank branches and 4,000 currency chests. We need to be careful and try that this is a number which is not a mere estimate but a verified number both physically and in the accounting sense," Patel added when asked about the estimated amount of old currency notes that have come back.

RBI to declare ''verified'' figure on post-demonetisation deposits

The central bank in a writtenn testimony to the parliament said that they had warned the government of the "possible inconvenience to the public for some time".

Govt pressed ahead with demonetisation despite concerns, RBI tells parliament

This facility will be available for those who are not residents of India till June 30 "in order to allow them adequate time to plan a visit as per their convenience", it said.

Cash deposit deadline extended for those outside country

RBI said, "We would like to clarify that the periodical Specified Bank Notes&nbsp;(SBN)&nbsp;figures released by us were based on aggregation of accounting entries done at the large no of Currency Chests all over the country. Now that the Scheme has come to an end on December 30, 2016, these figures would need to be reconciled with the physical cash balances to eliminate accounting errors/ possible double counts etc."

97% of demonetised notes are back? RBI says don't know yet

After March deadline, people still holding the demonetised amount will face penalty, as per an&nbsp;ordinance passed by Union Cabinet earlier this week.&nbsp;

 Demonetisation: Last day for depositing scrapped notes in banks

The extension of the Welcome Offer by Reliance Jio is expected to impact on its Q4 results.

Demonetisation: Reliance Jio may extend 'Welcome Offer' beyond December

old-rs-500-notes

About 6,857.82 million notes of Rs 1000 and 17,165.06 million notes of Rs 500 valuing separately Rs 685,782 crore and Rs 858,253 crore respectively were scrapped 

Rather, it is using "sophisticated Currency Verification and Processing (CVPS) machines for checking the numerical accuracy and genuiness of the currency notes, including SBNs (Specified Bank Notes that have been scrapped)", the RBI clarified later this evening.

On November 08, 2016, PM Narendra Modi announced the demonetisation of high denomination notes old Rs 500 and Rs 1000 to tackle black money and terror financing. 

Here are some facts about the printing and other factors that went into the making of the new Rs 500 currency note as given by top officials involved in the issue.

As per the Request for Proposal (RFP), the machines should be computer based and microprocessor controlled and capable of processing, counting, sorting and authenticating banknotes into 'fit for circulation', 'unfit for circulation', 'reject notes', 'suspect/forged notes', and 'emission-wise sorting on design and series', among other categories.

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Old Rs 500 Notes

Key things Modi pointed out on 1-year of demonetisation

No counting machines, but sophisticated currency verification units being used for scrapped notes: RBI

How demonetisation dented the RBI

Post note ban, why were new Rs 500 notes late in coming?

RBI to procure 50 note verifying machines

Co-operative banks given 30 days time to deposit demonetised notes

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Demonetisation unnecessarily demonised: Aditya Puri

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RBI to declare ''verified'' figure on post-demonetisation deposits

Govt pressed ahead with demonetisation despite concerns, RBI tells parliament

Cash deposit deadline extended for those outside country

97% of demonetised notes are back? RBI says don't know yet

Demonetisation: Last day for depositing scrapped notes in banks

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Top News

Stocks to Watch Today (December 08, 2025): Groww, RailTel, PNB, Ola Electric, Delhivery and more

DGCA grants IndiGo 24-hour extension to respond to show cause notice

US Under Secretary Hooker begins five-day India visit to strengthen ties amid advancing trade talks

Railways and IRCTC jointly open helpdesk at Ahmedabad Airport amid IndiGo operational chaos

MNRE reaffirms push to strengthen India’s position in the global solar value chain

India's forex reserves slip USD 1.88 billion to USD 686.227 billion with FCA down, gold reserves up