Demonetisation of Rs 500 and Rs 1000 Notes on Nov 08,2016 - Reserve Bank of India (RBI) Reports 99% of demonetised notes returned to banking system Wednesday August 30,2017

All but 1% of Rs 1,000 and Rs 500 denomination banknotes (by value) invalidated on November 08 ,2016 had been returned by the end of June, according to the Reserve Bank of India (RBI)'s annual report released on Wednesday August 30,2017

The disclosure put to rest one of the big mysteries surrounding the exercise, billed as one of the biggest-ever assaults on black money and, according to some analysts, helped the Bharatiya Janata Party win popular support and the crucial Uttar Pradesh polls earlier this year.

 The report said 98.96% of the Rs 1,000 and Rs 500 denomination banknotes that had been invalidated had been returned