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This Is What Happened To The Old 500 & 1000 Rupee Notes After Demonetisation

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This Is What Happened To The Old 500 & 1000 Rupee Notes After Demonetisation

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The whole ruckus that happened when notes of 500 and 1000 notes were banned will remain unforgettable. People went crazy, because of course, the whole thing was uncalled for, making that event a huge mess for everyone.

Although the initial policy statement did mention lowering the quantity of cash in use in the Indian economy, describing demonetisation as a boost towards cashless transactions, which is how many people today justify the strategy, it was an anachronism.

It’s been a while since that incident, more than 5 years now. There were people endlessly working to get the matter solved, and normal people were lined up outside banks just to get their notes changed in exchange for getting new validated notes.

On the night of November 8, 2016, Prime Minister Narendra Modi depreciated all 500 and 1000 rupee notes.

Narendra Modi Demonetization speech
NDTV

But the main question, which still remains sort of a mystery, is, what did they do with the crores of demonetised notes that were returned? Did those get recycled? Or are they stored somewhere, with or without a case? Or is there a plan to create another ruckus sometime soon? We never know.

According to prior assertions by RBI executives, the demonetised banknotes retrieved from banks are encoded through a currency authentication and monitoring system that can distinguish between real and fake notes.

99.3% of the old currency were returned

In 2018, the Reserve Bank of India (RBI) reported that 99.3% of the notes had been repatriated to the central bank.

According to the Reserve Bank of India, there were 1,716.5 crore units of 500 and 685.8 crore units of 1,000 fiat currency on November 8, 2016, the day of the demonetisation announcement, totaling a tremendous sum of 15.44 lakh crore.

The Reserve Bank of India claimed in its financial report for 2016-17, announced on August 30th, 2017, that 15.28 lakh crore, or nearly 99.3% of the taken down notes, had reverted to the central bank.

Only 16,050 crores of the 15.44 lakh crore kept in previously taken down notes was not surrendered for the fiscal year ended June 30, 2017, according to the RBI.

demonetisation of 500 and 1000 notes
wikipedia

What happened to demonetised 500 and 1000 notes?

After that, the demonetised currencies are shredded and turned into briquettes, which is truncated garbage chunks. Tenders are invited after it has been converted into lump charcoal. The briquettes are subsequently supplied to cardboard and paper producers.

The RBI receives old outlawed notes, which are shredded and transformed into composite waste blocks, which are subsequently sold to cardboard and paper manufacturers via tenders.

What Happened To The Old 500 & 1000 Rupee Notes
zeenews

However, even after more than five years since this massive demonetisation operation, the debate on whether demonetisation was successful in capturing black money remains unresolved. At least that helped in creating a huge amount of manure for plants and increased the fertilisation rate of the ground a little bit.



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Arvind Kejriwal Reacts After Men Rob Car At Gunpoint Inside Delhi’s Pragati Maidan Tunnel

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10 Super-Hit Movies Rejected By Kareena Kapoor And The Reason Behind It

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men robbed in Pragati Maidan tunnel

Daylight robbery is not quite usual but it does not strike out the fact that it is highly possible. Many a time cases as such have surfaced online where normal people were robbed in broad daylight. Recently, the passengers in a taxi got robbed inside the Pragati Maidan tunnel in Delhi on Saturday afternoon.

Four men rob taxi passengers at gunpoint in broad daylight and here is what Delhi Police have to say

On Saturday, a delivery agent and his associate were robbed at gunpoint by a group of unknown assailants, stealing around Rs 1.5 to Rs 2 lakh cash from them. In spite of having 16 security guards in the Pragati Tunnel, there were no CCTV cameras installed. Although the Public Works Department assured that cameras are installed, they did not confirm their operational conditions.

two men robbed in Delhi near pragati tunnel
ndtvindia

The victims made a complaint at Tilak Marg police station later in the evening. The Pragati tunnel is a 1.5 km tunnel that connects New Delhi with Sarai Kale Khan and Noida. The police said that following the complaint made by the victims, a case has been filed under Sections 397 IPC which covers robbery, or dacoity with an attempt to cause death or grievous hurt and 34 (common intention).

The Deputy Commissioner of Police, Pranav Tayal, has shared that the complainant can be identified as Patel Sajan Kumar and his associate Jigar Patel. Patel Sajan works as a delivery agent for a private firm in Chandni Chow and has informed the police that he and Jigar were going to Gurugram to deliver the cash to a client.

As per the registered complaint, the two of them hired an Ola cab from near Red Fort. As soon as the cab entered the Pragati Maidan tunnel from Ring Road, four assailants on two motorcycles surrounded their cab and robbed the cash off them keeping them at gunpoint.

delhi robbery near pragati tunnel
ndtvindia

While the police are looking into the matter, Delhi Chief Minister Arvind Kejriwal is not satisfied with the deterioration of public safety needs

As soon as the CCTV footage surfaced, Arvind Kejriwal lashed out at Lieutenant Governor Vinai Kumar Saxena and demanded his resignation from the post.

Kejriwal took to Twitter to share the footage and wrote,

“If Central govt is unable to make Delhi safe, hand it over to us. We will show u how to make a city safe for its citizens”

Delhi Minister Atishi also took to Twitter and slammed the incompetency of the Lieutenant Governor. She tweeted,



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Railway Responds After Rain Water Leaking From Train’s Roof In AC Coach Goes Viral

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water leak avantika express

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water leak avantika express

Coming across train service complaints on social media is nothing new. Very often than not we find passengers complaining about bland food or bugs in the cooked food provided to them. Quite recently someone took to Twitter regarding a complaint where they found plastic in the railway food. But the latest thing that happened has actually stunned everyone when a video of the roof of a passenger coach train surfaced online.

Indian Railways slammed over water leakage in AC coach

Netizens have harshly criticized the poor management and maintenance of the train coaches after a surprising video surfaced online. Recently, a video went viral on social media platforms in which it can be clearly seen rainwater seeping in through the roof of the 2-tier AC coach of the Avantika Express. The Congress party also reshared the video uploaded by a passenger and took to Twitter to play the blame game immediately.

rainwater leaking through AC coach Avantika express
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The tweet said,

“काश खोखले प्रचार की जगह रेलवे के लिए कुछ काम किया होता। झंडी दिखाने वाले रेल मंत्री अभी विदेश में हैं, नाम वाले रेल मंत्री ध्यान दें। (Wish some actual work would have been done for the Railways in place of empty propaganda. The railway minister who shows the flag is currently abroad, the named railway minister should pay attention)”

It was a jab at the Prime Minister, Narendra Modi, who recently flagged off 11 Vande Bharat Express, the Railways’ newest hi-tech train.

Railways response to the above-mentioned tweet

The Western Railway took to Twitter to respond to that tweet hours later and stated that all the coaches of the Avantika Express train were properly checked.

indian railways
railenquiry

The tweet read,

“All coaches of Avantika Exp have been checked thoroughly & issue has been attended to promptly. The train has commenced its return journey & there are no such issues now. Passenger convenience is of utmost priority & WR leaves no stone unturned to resolve passengers’ grievances”

Netizens have strongly reacted to this video

Many Twitter users have either chosen sarcasm or disappointing words to slam the Railways.

This is probably not the first time that something has happened as per the claims of this Twitter user,



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SRK Gives Best Reply To A Pregnant Woman Who Wants To Name Her Twins Pathaan And Jawan

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SRK i am pregnant with twin babies

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SRK i am pregnant with twin babies

On Sunday, Shah Rukh Khan aka the King Khan, completed 31 years in Bollywood industry. It was in 1992, when he made his debut in the industry with the movie Deewana opposite late actress Divya Bharti. As the fans celebrated the big day on social media with amazing messages and tributes for the actor, SRK also decided to celebrate the occasion with his fans in his own style.

Shah Rukh Khan completed 31 years in Bollywood

He took some time out of his busy schedule and held an #AskSRK session on Twitter. Starting the question and answer session on Twitter, SRK wrote:

“Wow just realised it’s 31 yrs to the day when Deewana hit the screens. It’s been quite a ride mostly a good one. Thanks all and we can do 31minutes of #AskSRK ??”

In no time, his Tweet was flooded with a variety of questions from fans for their favorite actor. SRK, who is known for his hilarious sense of humor, gave amazing replies to his fans with wit and humor.

shah rukh khan deewana
siasat

SRK celebrated the big occasion with the fans

While interacting with the fans, King Khan stumbled upon a question that was asked by a female fan, who is currently pregnant with twins. The fan came up with an epic Tweet for the Pathaan actor. She asked:

“sir i am pregnant with twin babies..wish me luck i will name them pathaan and jawan.”

SRK was quick to notice the Tweet and come up with a reply to it

He replied,

“All the best but please name them something better!!”

Besides all the funny and hilarious answers, SRK was also seen giving some serious answers. A fan asked him if he would do a movie like Swades again, a role that was loved by one and all

Talking about his work front, SRK made a comeback after a hiatus of 4 years with Siddharth Anand’s blockbuster action-thriller Pathaan, which hit the theatres in January this year. SRK will be next seen in the upcoming action-thriller Jawan, which will be released on September 7th.

Jawan is directed by South filmmaker Atlee. Produced under SRK’s Red Chillies Entertainment, the movie also stars Nayanthara and Vijay Sethupathi in lead roles.



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