RBI issued 22.6 billion pieces of banknotes between Nov 10 to Dec 19

the reserves bank of India (RBI) on Wednesday said it issued a total of 22.6 billion pieces of notes of various denominations post demonetisation.

Demonetisation: RBI issued 22.6 billion pieces of banknotes between Nov 10 to Dec 19

New Delhi, Dec 21: The Reserve Bank of India (RBI) on Wednesday said it issued a total of 22.6 billion pieces of notes of various denominations post demonetisation. RBI said it issued a total of 22.6 billion pieces of notes of various denominations between November 10 to December 19. “The Reserve Bank has issued to the banks and their branches, for distribution to the public, a total of 22.6 billion pieces of notes of various denominations,” said the RBI press release.

While the RBI issued 22.6 billion pieces of banknotes between November 10 and December 19, the banks issued Rs 5,92,613 crore to public. “Over the period from November 10, 2016 upto December 19, 2016, banks have reported that banknotes worth Rs 5,92,613 crore have been issued to public either over the counter or through ATMs,” said the RBI.

Of the total 22.6 billion banknotes issued by the RBI, 20.4 billion pieces belonged to small denominations of Rs 10, 20, 50 and 100s and 2.2 billion belonged to higher denominations of Rs 2000 and Rs 500. Prime Minister Narendra Modi announced demonetisation of Rs 500 and Rs 1000 currency notes on November 8, which led to massive cash crunch in the country.