99.3% of junked 500, 1,000 notes returned to banks: RBI

99.3% of junked 500, 1,000 notes returned to banks: RBI https://www.taxtmi.com/news?id=20467 Reserve Bank reports near-complete return and processing of demonetised specified bank notes (SBNs): receipts were verified, counted and processed through high-speed currency verification and processing systems (CVPS), then shredded; a small residual portion did not return to the banking system. Unusual deposits faced income-tax scrutiny. The exercise increased printing and processing expenditure and altered counterfeit detection patterns across denominations, while denomination management included issuing replacement notes for some withdrawn denominations. en-us Wed, 29 Aug 2018 16:34:29 +0530 Wed, 29 Aug 2018 16:34:29 +0530 TaxTMI RSS Generator 99.3% of junked 500, 1,000 notes returned to banks: RBI https://www.taxtmi.com/news?id=20467 Reserve Bank reports near-complete return and processing of demonetised specified bank notes (SBNs): receipts were verified, counted and processed through high-speed currency verification and processing systems (CVPS), then shredded; a small residual portion did not return to the banking system. Unusual deposits faced income-tax scrutiny. The exercise increased printing and processing expenditure and altered counterfeit detection patterns across denominations, while denomination management included issuing replacement notes for some withdrawn denominations. News - Wed, 29 Aug 2018 16:34:29 +0530 https://www.taxtmi.com/news?id=20467