Demonetisation maths

Last Modified: Sun Nov 20 2016 13:41:58 GMT+0530 (India Standard Time)
  • 4
    mints where the new notes are being printed. 2 mints printing Rs. 2,000 notes are located in Mysuru, Karnataka and Salboni, West Bengal. 2 mints printing Rs. 500 notes are located in Dewas, Madhya Pradesh, and in Nashik, Maharashtra.
  • 3 billion
    notes per month can be printed by the 4 mints combined.
  • ₹14 trillion
    value of the currency - roughly equal to the gross domestic product of Portugal - that has been taken out of circulation and needs to be replaced.
  • 17.5 billion
    notes will be required to replace the value of the notes taken out of circulation, assuming half that value is printed in ₹500 rupee notes and the other half is printed in ₹2,000 rupee notes.
  • 175 days
    will be required to replace the 17.5 billion notes as per the assumption made above.
  • 19
    Reserve Bank of India issue offices in major cities across the country that receive the printed notes from the nearest mint.
  • 4,000
    + currency chests operated by various banks where the money is transported to from various issue offices in high-security vans.
  • 218,000
    ATMs, ? bank branches, 120,000 banking correspondents network, 130,000 post office branches and 250,000 rural points that need to be replenished with the new notes.