RBI refuses to divulge cost of destroying banned notes

New Delhi, Nov 6: The RBI has refused to divulge the cost incurred on shredding banned currency notes worth Rs 15,31,073 crore which returned to banks following demonetization.

            Reserve Bank of India (RBI) said, to a query under the Right to Information (RTI) Act that the process of destruction of banned notes got over in March 2018.

            The RBI said invalidated notes worth Rs 10,720 crore did not return to the banking system.

             The banned currency was destroyed through machines of the currency verification and processing system, it said.

             To Gaud’s question about how much the destruction of banned currency cost, the reply gave no information.