CURRENCY NOTES IN CIRCULATION: BASIC STATS

RESOURCES

WORTH

  • 17,54,000 CRORE: OVERALL WORTH OF NOTES IN CIRCULATION

IN VALUE TERMS

  • RS 500 NOTES CONSTITUTE 45% OF THIS
    RS 1000 NOTES CONSTITUTE 39% OF THIS

IN VOLUME TERMS

  • RS. 10 AND RS. 100 NOTES CONSTITUTE 53% OF THIS.

RS. 500 AND RS. 1000 NOTES IN CIRCULATION

ACCORDING TO A BUSINESS STANDARD REPORT QUOTING DEPUTY GUV R GANDHI:

  • “16.5 BILLION RS 500 NOTES AND 6.7 BILLION RS 1000 NOTES IN CIRCULATION CURRENTLY”.

ACCORDING TO A BLOOMBERGQUINT REPORT QUOTING THE RBI,

  • 7% OF NOTES IN CIRCULATION: RS. 1000
  • 14.7% OF NOTES IN CIRCULATION: RS. 500

RS. 6,32,600 CRORE IN CIRCULATION – IN THE FORM OF RS. 1000 NOTES – TO BE REPLACED BY RS. 2000 NOTES

CURRENCY CHESTS

  • STATE BANK OF INDIA – HAVING STRONGEST CURRENCY CHEST IN INDIA – 1965 IN NUMBER
  • SBI AFFILIATES – 757 CURRENCY CHESTS
  • OTHER NATIONALIZED BANKS – 1173 CURRENCY CHESTS
  • PRIVATE BANKS – 160 CURRENCY CHESTS

COUNTERFEIT

2015-16: COMMERCIAL BANKS FLOW DELECTATED 6.5 LAKH COUNTERFEIT NOTES.

  • 30%: EXPANSION IN ECONOMY BETWEEN 2011 TO 2016.
  • 40%: INCREASE IN CIRCULATION OF CURRENCY NOTES.
  • 76%: INCREASE IN CIRCULATION OF RS. 500 NOTES IN THE SAME PERIOD.
  • 109%: INCREASE IN CIRCULATION OF RS. 1000 NOTES.
  • 4 LAKH OF THESE NOTES WERE OF RS. 500 AND RS 1,000.

GOVERNMENT WANTS TO CHECK THIS BY RE-MONETISING RS. 500 NOTE AND REPLACING RS. 1000 NOTE BY RS. 2000 NOTE.

BUT WHAT ABOUT COUNTERFEIT RS. 100 NOTES?

RS. 100 COUNTERFEIT NOTES IN CIRCULATION: 2 LAKH

©SantoshChaubey

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