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Notes in circulation at 85% of pre note-ban level: Govt

LiveMint logoLiveMint 21-07-2017 PTI

New Delhi: Notes in circulation are above 85% of the pre-demonetisation levels and steps have been taken to accelerate remonetisation, the government said on Friday.

“The notes in circulation as on 23 June 2017 stood at Rs15,074.43 billion as against Rs17,540.22 billion as on October 28, 2016,” minister of state for finance Arjun Ram Meghwal said in a written reply to the Lok Sabha.

The availability of currency in different parts of the country is being constantly monitored and steps have been taken to accelerate remonetisation, he said.

“With the continued efforts to remonetise the economy, the notes in circulation has been increasing and now stands above 85% of pre-demonetisation levels,” he said.

Prime Minister Narendra Modi on 8 November had announced demonetisation of Rs 1,000 and Rs 500 notes in a major assault on black money, fake currency and corruption. New Rs 2,000 and Rs 500 notes were then brought into circulation.

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