New Delhi: The Prime minister of India Shri Narendra Modi after a sudden decision over demonetization to banned the black money, after a long time RBI revealed the details of the returned money in the banks, Indians have returned almost 99% all of the expected Rs. 15.44 lakh crore ($242 billion) in currency banned the Reserve Bank of India (RBI) said in its annual report on Wednesday, The Finance Ministry Arun Jaitley said in a statement that “important portion” if it could be black money, the tax authorities have found secret income of Rs. 17,526 crore and Rs. 1,003 crores has been seized so far, Fending off criticism that the notes ban failed to deliver on its purpose of tracking black or un-taxed money.
The Reserve Bank of India, which has been reporting on a large number of banknotes, has calculated the calculation, Only 1.3 percent of the 1,000 rupee notes have not been reached to RBI, the RBI released the 2016-17 Annual Report with details of these notes, the RBI has reached Rs 15.28 lakh crore, 632.6 crores in 1000 notes and Rs. 8.9 crore (Rs 8900 crore) has to be reached to RBI still, reserve bank given a clarity that 7 lakhs 62,000 fake notes in big notes returned, Similarly RBI has spent Rs 7,965 crore for new currency printing.
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