Over 99% of demonetised notes were returned: RBI

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Their total value was Rs.15.31 lakh crore, shows report

The Reserve Bank of India’s annual report for 2017-18 said more than 99% of the Rs.500 and Rs.1,000 notes, which were withdrawn from circulation in November 2016, had been returned to the central bank.
The total value of such notes returned from circulation is Rs.15.31 lakh crore.
RBI data showed that the value of banknotes in circulation increased by 37.7% over the year to Rs.18.04 lakh crore at end-March 2018.

More Rs.500 notes

With more Rs.500 notes having been pumped into the system over the last year, the share of Rs.2,000 notes by value declined to 37.3% as on March 2018, compared with 50.2% a year earlier.
The share of Rs.500 notes, in terms of value, increased from 22.5% to 42.9% in the same period.
“The share of newly introduced Rs.200 banknotes in the total value of banknotes in circulation was 2.1% at end-March 2018,” the report released said.
Overall, the value of banknotes in circulation was Rs.18,037 billion as on March 2018, a growth of 9.9% over March 2016.
“There is a 5.8%/Rs.1 lakh crore shift in favour of small denomination currency notes,” the report said.
The central bank said the processing of the withdrawn bank notes has been completed at all centres of the Reserve Bank.

Electronic Transactions

While cash has come back into the system, electronic payments also registered a healthy growth, RBI data showed.
The share of electronic transactions in the total volume of retail payments increased to 92.6% in 2017-18, from 88.9% in the previous year with a corresponding reduction in the share of paper-based clearing instruments from 11.1% in 2016-17 to 7.4% in 2017-18.

Prepaid Payments Instruments

Prepaid payment instruments (PPIs) recorded a volume of about 3.5 billion transactions, valued at Rs. 1,416 billion while mobile banking services witnessed a growth of 92% and 13% in volume and value terms.
The number of registered customers rose by 54% to 251 million at end-March 2018 from 163 million at end-March 2017, the RBI said.

Additional Info:

Prepaid payment instruments

Prepaid payment instruments are methods that facilitate purchase of goods and services against the value stored on such instruments.
The value stored on such instruments represents the value paid for by the holder, by cash, by debit to a bank account, or by credit card.