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Before demonetisation (November 2016), there were banknotes worth ₹17.97 trillion in the market. The demonetised banknotes constituted 86.4% of it. [67] The banknotes in circulation had reached to the level before demonetisation in March 2018. [86] By March 2018, there were banknotes worth ₹18.03 trillion in the market; an increase of 9.9%.
The body of the article does a somewhat decent job of covering this topic, but the lede is not close to being an adequate summary of the body. There is not one mention of criticis
The High Denomination Bank Notes (Demonetisation) Act, 1978 was an act of the Indian Parliament that demonetized the high-denomination banknotes of ₹1000, ₹5000, and ₹10000. It was first introduced as the High Denomination Bank Notes (Demonetisation) Ordinance, 1978, by the then President of India Neelam Sanjiva Reddy . [ 3 ]
On 28 October 2016 the total banknotes in circulation in India was ₹ 17.77 trillion (US$200 billion). In terms of value, the annual report of Reserve Bank of India (RBI) of 31 March 2016 stated that total bank notes in circulation valued to ₹ 16.42 trillion (US$190 billion) of which nearly 86% (around ₹ 14.18 trillion (US$160 billion ...
2016 Indian banknote demonetisation; B. ... Indian 1-rupee note; Indian 2-rupee note; Indian 5-rupee note; ... Statistics; Cookie statement;
As of 10 November 2016, the RBI issues banknotes in this series in denominations from ₹5 to ₹100. Printing of five-notes, which had stopped earlier, restarted in 2009. On 8 November 2016, the ₹500 and ₹1000 banknote denominations of this series were demonetised and the new Mahatma Gandhi Series of banknotes were revealed in ...
The 2016 Indian banknote demonetisation and goods and services tax enactment in 2017 led to severe back to back disruptions in the economy. [190] On top of this there had been numerous banking crises such as the Infrastructure Leasing & Financial Services crisis and government scheme failures such as that of 'Make in India'. [190]
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