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The demonetised currency in India accounted for how much percentage of the country’s total cash value ?
1. 95%
2. 79%
3. 86%
4. 78%

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Correct Answer - Option 3 : 86%

The Correct Answer is 86%.

  • On 28 October 2016, India's total banknotes in circulation were estimated at about 17.77 lakh crore; it was unclear what proportion of this originated from between 500 and 1,000 banknotes.
  • The Reserve Bank of India (RBI) reported in its March 2016 annual report that total banknotes in circulation were valued at 16.42 lakh crore, of which nearly 86% (about 14.18 lakh crore) were derived from 500 and 1,000 banknotes.
  • In terms of volume, the report stated that 500 and 1,000 banknotes were 24 per cent of the total 9026.6 crore banknotes in circulation.
  • Until demonetisation (November 2016), the industry had banknotes priced at 17.97 lakh crore.
  • The demonetised banknotes made up 86.4% of that amount. In March 2018, the banknotes in circulation hit the amount prior to demonetisation. There were banknotes worth 18.03 lakh crore in the market by March 2018; a rise of 9.9 per cent.
  • 80.6 per cent of it is made up of new banknotes of 2,000 and 500. So there was just a 5.8 per cent rise in small banknotes for supremacy.

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