Notes in circulation at 85% of pre note-ban level: Govt

Notes in circulation are above 85 per cent of the pre-demonetisation levels and steps have been taken to accelerate remonetisation, the government said today.

"The notes in circulation as on June 23, 2017 stood at Rs 15,074.43 billion as against Rs 17,540.22 billion as on October 28, 2016," Minister of State for Finance Arjun Ram Meghwal said in a written reply to the Lok Sabha.

The availability of currency in different parts of the country is being constantly monitored and steps have been taken to accelerate remonetisation, he said.

"With the continued efforts to remonetise the economy, the notes in circulation has been increasing and now stands above 85 per cent of pre-demonetisation levels," he said.

Prime Minister Narendra Modi on November 8 had announced demonetisation of Rs 1,000 and Rs 500 notes in a major assault on black money, fake currency and corruption. New Rs 2,000 and Rs 500 notes were then brought into circulation.