In its 2017-18 annual report, the Reserve Bank of India said that the processing of demonetised Rs 500 and 1,000 banknotes is finally complete. It took almost 20 months for the RBI officials to finish counting of the demonetised notes. The central bank added that 99.3 per cent of the notes, worth Rs 15.3 lakh crore have been returned to banks.
Of the Rs 15.41 lakh crore worth 500 and 1,000 rupee notes in circulation before November 8, 2016, notes worth Rs 15.31 lakh crore have been returned. The “humongous task of processing and verification of specified bank notes (SBNs) was successfully achieved,” it said.
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