Nearly a year after Prime Minister Narendra Modi announced demonetisation, the Rs 500 and Rs 1,000 bills returned to banks are still being \"processed in all earnest\" through a sophisticated currency verification system, the RBI has said.

The government has made it mandatory for banks and financial institutions to check the original identification documents of individuals dealing in cash above the Rs 50,000 threshold as part of the stepped up war against black money.

The Reserve Bank of India (RBI) is not using 'counting machines' for tallying the total number of demonetised notes of Rs 500 and Rs 1,000 in any of its offices, the central bank has said in an RTI reply.

The Reserve Bank of India (RBI) has said counting machines are \"not being used\" for tallying the total number of demonetised notes of Rs 500 and Rs 1,000 in any of its offices, according to an RTI reply.

RBI has reported in their Annual Accounts that Specified Bank Notes (SBNs) of estimated value of Rs. 15.28 lakh crore have been deposited back as on 30.6.2017.  The outstanding SBNs as on 8th November, 2016 were of Rs. 15.44 crore value.

In its annual report, the Central bank said that after demonetization, close to 99 per cent currency was back in the banks, leaving out only Rs 16,050 in black cash that had been weeded out.    

With over Rs 15 lakh crore of junked currency coming back into the banking system post demonetisation, the government said a \"significant portion\" of it could be black money.

The Reserve Bank of India released their Annual Report for the financial year 2016-17 today.

According to the RBI, during 2016-17, 762,072 pieces of counterfeit notes were detected in the banking system, of which 95.7 per cent were detected by commercial banks.

Reports of Rs 1,000 currency bills being reintroduced started doing the rounds shortly after the Reserve Bank of India issued new 200 rupee notes for the first time ever on August 25.

\"There is no proposal to reintroduce 1,000 rupee note\" said Economic Affairs Secretary Subhash Chandra Garg in a tweet.

While a section of financial experts have attributed the slowing down of the economy in the final quarter to demonetisation, what seems to be more pronounced is the haphazard way the currency change was managed.

The new notes of Rs 200 should be out before the end of 2017 and will help in narrowing the demand and supply gap in smaller-denomination currency bills.

Switzerland may be known in popular perception as an alleged haven for black money, but it is the fake Indian rupee notes which seem to have seen a huge surge in the Alpine nation.

However, no records of discussion between RBI and the government on demonetisation were maintained because of secrecy, RBI Governor Urjit Patel has told a Parliamentary Standing Committee on Finance.

Stating that the government has adopted many new security features in the new currency notes, Minister of State for Home Kiren Rijiju said, \"I can assure the House and the country that now no one can copy 100 per cent, as we have indigenous design and extra features.\"

In a response to a query under the Right to Information Act, 2005, Bharatiya Reserve Bank Note Mudran (P) Ltd, a wholly owned subsidiary of the Reserve Bank of India (RBI), informed that the last-stage production of Rs 500 note was on October 27, 2016.

Is RBI right in stonewalling the RTI query on note ban?

The Rs 2,000 banknotes were introduced along with new Rs 500 currency following the withdrawal of old Rs 500 and Rs 1,000 notes from November 9, 2016.

Hyderabad police arrested Yousuf Shaik from Moula-Ali area, who was caught by Allahabad Bank staff while allegedly trying to deposit fake currency in the denominations of Rs 2,000 and Rs 500