How many worthless Rs 1,000 and 500 notes were hoarders of black money left holding on to after demonetisation because they couldn't reveal they had them? According to the RBI, "notes in circulation" are all notes held outside Reserve Bank — that is by the public, banks treasuries and so on. But a look at the total value of Rs 1,000 notes in circulation on November 8 puts it in perspective. On that date, 6,858 million Rs 1,000 notes were in circulation, according to a statement made by Santosh Kumar Gangwar, minister of state for finance, in the Lok Sabha on February 3 this year. Of this, Rs 1,000 notes made up about 44% and Rs 500- notes 56%.The government and RBI have not divulged the amount of returned notes till now.

Source: Times of India August 26, 2017 20:15 UTC