Of this amount, Rs 110 crore was seized by the IT Department, Rs 4.54 crore seized by ED, Rs 26.21 crore by the CBI and Rs 38 lakh by the DRI, Finance Minister Arun Jaitley said during Question Hour.
As far as rumours in the market are concerned, we should not go by such rumours," Minister of State for Home Kiren Rijiju said in the Rajya Sabha.
For a country that loves to use cash despite the recent digital push, the government's move to experiment with plastic Rs 10 banknotes should come as good news.
The RBI has informed that till February 24, a total of 11,64,100 new currency notes are in circulation in the market, Jaitley said in the Lok Sabha.
Modi's announcement on November 8 ordering the removal of 500-rupee and 1,000-rupee notes took out around 86 percent of the currency in circulation, putting activity on the skids in a predominantly cash-reliant economy.
ATMs are not designed to check the genuineness of currency notes at the time of dispensing. However, if a bank customer attempts to deposit fake currency, the machine will not accept.
The State Bank of India said on Wednesday it is examining all currency notes at automated teller machines (ATMs) after media reports cited fake 2,000 rupee notes being dispensed by one of its ATMs in New Delhi.
Noted American economist Steve H Hanke today said the demonetisation of high value Indian currency notes will have a 'political fallout' besides slow down in the economic growth.
The time when the fixed deposit was made with the cooperative bank is a very important.
The Reserve Bank is believed to have received deposits close to Rs 15 lakh crore, of estimated Rs 15.4 lakh crore worth junked Rs 500/1,000 currency notes that were in circulation, from the 50-day demonetisation exercise that ended on December 30.
"#Modi has officially steered #India's economy into contraction as a result of his war on cash. Just what I anticipated would happen," Hanke, an American applied economist at the Johns Hopkins University in Baltimore, Maryland said in a series of tweets.
Mutual Fund industry has added more than Rs 3.5 lakh crore to its asset base in 2016 to reach Rs 17 lakh crore mark, primarily on account of growing interest from retail investors and aggressive buying of stocks.
A CBI court today remanded sand mining baron J Shekar Reddy and four others in judicial custody till January 17 in a fresh case relating to seizure of currency notes from his house here.
Days after Prime Minister Narendra Modi warned those who indulged in malpractices during the 50-day demonetisation drive, the Finance Ministry has asked public sector banks to submit a report on the involvement of officials illegally changing currency notes.
The 50-day exercise ended on December 30, but the cash supply situation is yet to ease in certain pockets. As a result, the government has not lifted the withdrawal ceiling of Rs 24,000 per week.
RBI tonight came out with conditions for exchange of defunct notes for those, including non-resident Indians, who failed to do so till yesterday, the last day for depositing the invalid currency notes in banks.
Jan Dhan accounts witnessed net withdrawal of Rs 3,285 crore in the last fortnight after a huge surge in deposits post demonetisation in November.
Prime Minister Narendra Modi addressed the nation following up with the government's November 8 decision to demonetise Rs 500 and Rs 1,000 currency notes. Catch live updates here.
Making a pitch for cashless transactions, Minister of State for Petroleum and Natural Gas Dharmendra Pradhan today said there has been a phenomenal growth of about 25 per cent in digital payments for buying petroleum products at petrol pumps across the country post demonetisation.
The deadline to take insurance policy for both loanee and non-loanee farmers from banks for rabi crops under the Pradhan Mantri Fasal Bima Yojana (PMFBY) expires tomorrow.
Modi removed 500 and 1,000 rupee notes, worth around USD 7.50 and USD 15 respectively, on November 8, billing it as an attempt to root out corruption, end terror financing and move the country into the age of digital payments.
However, the cash crunch and queues outside ATMs and banks continue as currency printing presses have failed to meet the huge demand for new bills.
Sources said the ordinance is likely to be finalised before December 30. They added that the government is working out the penalty on the same which could go up to Rs 50,000 or more.
Event highlights of major clampdown by CBI, Enforcement Directorate and police.