Following the news of demonetisation across the country, various reports concerning currency notes have surfaced
The Finance Ministry has recently issued a circular regarding the value of currency notes after demonetisation. In response to a question in Parliament, the Ministry stated that there has been an increase in the value of currency notes after demonetisation. The circular also revealed the circulation of digital currency e-rupee till 28 February 2023.
The Reserve Bank of India (RBI) also released its annual report on banknotes and coins, which showed that the circulation of currency was Rs 13,35, 200 crore in the year 2017. In March 2018, the circulation of currency was worth Rs 18 lakh 21 thousand 318 crore, and in March 2019, it was worth 21 lakh 36 thousand 746 crore.
A post on social media is currently going viral, claiming that the exchange facility for old notes of 500-1000 for foreign nationals has been extended. This has caused panic among the people.
On 8 November 2016, Prime Minister Narendra Modi had announced demonetisation in the country, which resulted in the banning of currency notes of 500 and 1000 rupees. However, people were allowed to exchange their notes from the bank