Chidambaram, a former Finance Minister, said that 99 per cent of the scrapped Rs 500 and Rs 1,000 notes had been legally exchanged and asked if the demonetisation decision of the Narendra Modi government was created to convert black money into white.
"In a few months, new color combination and new design Rs 1000 notes will be released", then department of economic affairs secretary had said at the first press conference after the note ban on 10 November 2016. RBI is finally preparing to print Rs 1000 note at printing presses in Mysore and Salboni.
In the weeks following demonetisation, ruling politicians at the Centre had claimed that most of the black money was stocked by people in the form of high-value currency notes like Rs 1000 and Rs 500. As of March 31, 2016, there were 1,570.7 crore Rs 500 notes in circulation. It has touched Rs 13.10 lakh crore at the end of March 2017. Next in line for printing is the Rs 1000/- notes. But expectations of various quarters that sizable portion of the demonetised currency won't return has not been fulfilled.
Five dead, red alert issued in Mumbai; more rains expected
On Tuesday, the city received about 5 inches (127 millimeters) of rain and it's already hamstrung infrastructure collapsed. But Mumbai already has had about 2,000 mm of rainfall this monsoon season (since June) which is more than normal.
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The birdhouse of the Comepancito
In addition, all poultry farms in the country are monitored, having negative results to this disease , which reaffirms that in trade maintains the highest standards of health worldwide.
In the process of remonetisation, the RBI issued new Rs 500 notes. "Was demonetisation a scheme created to convert black money into white?"
RBI introduces after launching Rs 200 notes. "The economists deserve Nobel Prize", Chidambaram said. The RBI has put IDBI Bank, Indian Overseas Bank, UCO Bank under watch and had asked them to stay off risky assets so that their financial health is not stressed further.
Provisionally, all that the government had gained due to demonetisation turned out to be Rs 16,050 crore, which have not returned to the banking system. He said the demonetisation was not a move to confiscate currency.
"Is not the RBI's revelation this evening on demonetisation pointing to a big scam?I feel it was totally a flop show", Banerjee, also the Trinamool Congress chief, said on social networking sites Twitter and Facebook.