Post demonetisation in November 2016, the Reserve Bank has introduced Rs 200 and Rs 2,000 notes. Besides, it came out with smaller notes of Rs 10, Rs 20, Rs 50, Rs 100 and Rs 500.
In an apparent reference to Pakistan, the BSF chief said fake notes were being made and sent from the "friendly neighbour" on the western side of India, and Bangladesh was only used as a transit.
Earlier, various reports claimed that Kumar blamed Rajan's policies for the declining growth rate over the last three years.
Congress president Rahul Gandhi clubbed demonetisation with Rafale deal to allege that these were 'scams' meant to favour what he called 'crony capitalists' close to Prime Minister Narendra Modi.
On November 8, 2016, Prime Minister Narendra Modi had announced the demonetisation of high-value currency notes.
Terming demonetisation the country's "biggest scam", Gandhi alleged that money was taken from common people and given to "crony capitalists".
Giving account of several feats achieved by the government on the back of demonetisations, the FinMin claimed that the note ban helped in the formalisation of the economy, brought more money in the system, resulted in higher tax revenue, higher expenditure and higher growth after the first two quarters.
He said for the Rs 13,000 crore, which did not come back to the banks, the country lost Rs 2.25 lakh crore worth of GDP, crores of jobs and over a hundred lives.
However, the RBI has declared the process complete. The "humungous task of processing and verification of specified bank notes (SBNs) was successfully achieved," the central bank said in its statement.
A plea filed by complainants, the ADCB and its chairman Ajay Patel, contended that the two leaders had levelled "false and defamatory allegations" against the bank.
Speaking to reporters on the sidelines of an ICC seminar here today, Ghosh said that the rupee had experienced an orderly depreciation as it moved from Rs 64 to a dollar to Rs 70 over a span of five to six months.
The credit disbursal to the MSME sector has, however recovered a tad since the lows of 2017 to reach the mid-2015 level, notes an RBI report called the Mint Street Memo.
She also said farmers' distress will be compounded as the rupee fell further on Thursday to a new record low beyond Rs 70.20 against the dollar but recovered somewhat later.
Legal action will be taken against perpetrators of the fake news, the country’s presidential office has said.
NABARD issued a statement, saying that the average deposit amount in the Ahmedabad DCCB was Rs 46,795 per account holder, which is lower than the average per depositor in 18 DCCBs of Gujarat.
The US, Japan, Germany and China are the biggest HNI (High net worth Individuals) markets in the world, adding that the show in 2017 has increased India’s ranking to 11th.
Chatterjee said the demonetisation initiative undertaken in November 2016 caused hardship to the people.
The figures for both 'currency with the public' and 'currency in circulation' have also exceeded the levels seen before the government's demonetisation decision on November 8, 2016, that saw nearly 86 per cent of the currency in circulation at that time being invalidated overnight by scrapping the then Rs 500/1,000 banknotes.
Slamming banks for allegedly helping rich and powerful manage their cash during the note-ban, the Bihar chief minister alleged that some powerful people shifted their cash from one place to another.
However, it added a note of caution: "In India, given increased inflation pressure, monetary policy should maintain a tightening bias."
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