15 Months Post Note Ban, RBI Still Processing Returned Notes

15 Months Post Note Ban, RBI Still Processing Returned Notes. The RBI has said that Rs. 500 and Rs. 1,000 notes, came back to banks when the administration demonetised high esteem money 15 months prior, are as yet being “prepared for their arithmetical exactness and validity”.

New Delhi: The RBI has said that Rs. 500 and Rs. 1,000 notes, came back to banks when the legislature demonetised high esteem cash 15 months prior, are as yet being “handled for their arithmetical exactness and validity”. This is being done in a “sped up way”, the national bank said.

“Particular monetary certificates are being prepared for their arithmetical exactness and validity and the compromise for the same is continuous. This data can, consequently, be shared on finishing of the procedure and compromise,” the RBI said in answer to a RTI application documented by a PTI reporter.

To an inquiry on the quantity of demonetised notes, it stated, “…subject to future revisions assuming any, emerging over the span of confirmation process, the evaluated estimation of determined monetary certificates got as on June 30, 2017 is Rs. 15.28 trillion (lakh crore)”.

Solicited to give the subtle elements from the due date for completing the checking of demonetised takes note of, the RBI said “determined monetary certificates are being handled in an assisted way”.

(This Story originating from NDTV)