Highlights 1 The discarded currency notes of Rs 500 and Rs 1,000 will be disposed of by RBI. 3 In total, 2,203 crore currency notes will be destroyed or recycled by the RBI. And, about 86 per cent of money in circulation, as on March 31, was in the form of Rs 500 and Rs 1000 currency notes. Of the total number of currency notes, 2,203 crore or over 24 per cent consisted of Rs 500 and Rs 1,000 denominations. Now that the government has declared the currency notes of Rs 500 and Rs 1,000 invalid with effect from November 9, the natural question is what will happen to 2,203 currency notes.

Source: India Today November 10, 2016 11:37 UTC