Why RBI is still counting notes?

[vgane]

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RBI is going to buy sophisticated machines to detect fake notes...Does it take so much time for this??

 

[vgane]

 

[vgane]

 

[prasad1]

They are still accepting "old" notes, through back door.
Another corruption because of demonetization.
RESERVE BANK of India (RBI) Governor Urjit Patel told a parliamentary panel on Wednesday that the demonetised Rs 500 and Rs 1,000 notes which were deposited in banks after November 8 are still being counted. Therefore, the RBI could not provide the “exact amount” of the scrapped notes received.
The RBI informed the Standing Committee on Finance, headed by senior Congress leader M Veerappa Moily, that it had issued tenders for fresh Currency Verification Processing System (CVPS) machines to speed up the counting.

http://indianexpress.com/article/bu...rbi-chief-to-house-panel-urjit-patel-4748209/


What will you do with all those counting machines after this one time use?
You could have used more people with the same machines but use it round the clock.

The jury is still out on the tangible economic benefits of demonetisation that sucked out Rs 15.4 lakh crore from the system overnight in a move that was expected to weed out black money. The political benefits are there for all to see, with UP state elections giving the BJP a thumping majority, as did the local body elections in Maharashtra and Chandigarh.

While a section of financial experts have attributed the slowing down of the economy in the final quarter to demonetisation, what seems to be more pronounced is the haphazard way the currency change was managed. The latest embarrassment for the RBI was it being ridiculed by the Parliamentary Standing Committee of Finance for its failure to produce a figure for the amount of money that has come into the banking system following demonetisation in November 2016.

http://www.dailyo.in/business/demonetisation-rbi-fails-counting-notes-black-money-urijit-patel/story/1/18413.html