577 Crore Additional Loss Due to Demonetization?

The financial implications of the Demonetization are still being felt. The Printing Presses of the government had informed the RBI that they have lost 577 Crore due to Demonetization and asked the Central Bank to reimburse the amount.

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Printing Presses have imported the stocks of Printing Papers, Ink, and other necessary items for Printing but they have all gone waste with the sudden decision to ban the existing 500 and 1000 Notes. There are four Printing Presses in the country.

RBI recently revealed that 15.28 Lakh Crore out of the total, 15.4 Lakh Crore Demonetized Currency i.e., 99% is back into the system. Economists also say that GDP is also down by 2-2.5% due to the Demonetization.