What is the number of 500 rupee notes in the economy before demonetization?
In terms of volume, the report stated that 24% (around 22.03 billion) of the total 9026.6 crore (90.26 billion) banknotes in circulation were ₹500 and ₹1,000 banknotes. Before demonetisation (November 2016), there were banknotes worth ₹17.97 lakh crore (US$240 billion) in the market.
How do I change the old 500 notes now?
What should I do if I have currency in Rs 500 and Rs 1,000 notes? You can deposit these notes into your bank accounts or they can be exchanged at bank branches till 30th December 2016. Bank notes of the combined value of Rs 4,000 only can be exchanged. Similar facilities will also be made available at Post Offices.
What is Hampi in 50 rs note?
The new version of the note has a depiction of Hampi with Chariot on the reverse, depicting the country’s cultural heritage. The base colour of the note is Fluorescent blue.
Did Demonetisation help India?
On the fourth anniversary of demonetisation, Prime Minister Narendra Modi on Sunday said the move helped in reducing black money, increase tax compliance and formalisation of the economy. … Demonetisation has helped reduce black money, increase tax compliance and formalization and given a boost to transparency.