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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%.
Fake Indian Currency Note (FICN) is a term used by officials and media to refer to counterfeit currency notes circulated in the Indian economy. [1] In 2012, while responding to a question in parliament, the Finance Minister, P. Chidambaram, admitted that there is no confirmed estimate of fake currency in India. [ 2 ]
Obverse of the ₹ 2000 banknote between October 2016 – November 2023. It was released by the Reserve Bank of India (RBI) on 8 November 2016 after the demonetisation of ₹500 and ₹1000 banknotes and has been in circulation since 10 November 2016. [2] It is a part of the Mahatma Gandhi New Series of banknotes with a completely new design.
The film follows the series of incidents that happened in Mangalore-based underworld don Nithyananda Shenoy 's life, following the announcement of 2016 Indian banknote demonetisation on 8 November. Mammootty speaks Kasargod dialect in the movie. The film was released on 12 April 2017 two days before the Vishu holiday.
The Mahatma Gandhi New Series of banknotes are issued by the Reserve Bank of India (RBI) as the legal tender of the Indian rupee (₹), intended to replace the Mahatma Gandhi Series of banknotes. Announced on 8 November 2016, it followed the demonetisation of ₹ 500 and ₹ 1000 banknotes of the original Mahatma Gandhi
On 8 November 2016, the Government of India announced the demonetisation of ₹ 500 and ₹ 1,000 banknotes [68] [69] with effect from midnight of the same day, making these notes invalid. [70] A newly redesigned series of ₹ 500 banknote , in addition to a new denomination of ₹ 2,000 banknote is in circulation since 10 November 2016.
In January 2020 itself, well before India's lockdown or reactions to the pandemic, the International Monetary Fund reduced India's GDP estimates for 2019 and also reduced the 2020 GDP forecast. [190] The 2016 Indian banknote demonetisation and goods and services tax enactment in 2017 led to severe back to back disruptions in the economy. [190]
10 April – Puttingal temple fire caused 107 deaths. [17] 11 April – 2016 Assam Legislative Assembly election – BJP won the majority. 5 May - 2016 West Bengal Legislative Assembly election – Mamata Banerjee-led TMC won majority. 16 May - 2016 Tamil Nadu Legislative Assembly election- Jayalalithaa-led AIADMK won majority.