Nearly nine years after the 2016 demonetization, Maharashtra’s district cooperative banks are still holding Rs 101.18 crore in invalid Rs 500 and Rs 1,000 notes, raising concerns over unresolved financial and legal hurdles.
As per reports, multiple banks across the state continue to store these defunct notes, unable to deposit or dispose of them due to regulatory restrictions.
The district-wise breakdown of the stuck currency is as follows: Wardha DCCB – Rs 78 lakh, Nagpur – Rs 5.02 crore, Amravati – Rs 11 lakh, Pune – Rs 22.25 crore, Kolhapur – Rs 25.27 crore, Sangli – Rs 14.72 crore, Nashik – Rs 21.32 crore and Ahilyanagar – Rs 11.68 crore.
Despite various attempts to resolve the issue, the fate of this stranded money remains uncertain, leaving banks burdened with non-performing assets.
