₹1,000 notes' circulation increased 109% from 2011-2016
Department of Economic Affairs Secretary Shaktikanta Das on Tuesday revealed that the circulation of ₹1,000 denomination notes increased by 109% and that of ₹500 denomination increased 76% from 2011 to 2016. This comes after RBI Governor Urjit Patel clarified that ₹500 and ₹1,000 notes were declared not valid because there were too many fake notes in circulation.