Rs 15,310.73 billion returned from circulation post-demonetisation

The total value of specified banknotes returned from circulation during 2016 - 2017 was Rs 15,310.73 billion, Minister of State for Finance Anurag Thakur informed the Lok Sabha in a written reply on Monday.

On November 8, 2016, the Centre had invalidated Rs 500 and Rs 1,000 notes and introduced new Rs 500 and Rs 2,000 notes in a bid to fight terror funding and money laundering.

Responding to another question on non-performing assets (NPAs) in percentage term and the total GDP at the end of demonetisation and till date, Thakur said, "Gross NPA of scheduled commercial banks to gross advances, as per the RBI data on global operations, was 9.20% as on 31.12.2016 and 9.08% as on 31.3.2019."

The Minister said that the GDP at current market prices in the years 2016-2017, 2017-2018 and 2018-2019 (provisional estimate) were Rs 1,53,62,386 crore, Rs 1,70,95,005 crore and Rs 1,90,10,164 crore, respectively.