New Delhi: Mounting a fresh attack on the Narendra Modi government over demonetisation, Andhra Pradesh CM N Chandrababu Naidu on Monday said that the government failed to manage demonetisation. Addressing the media, Naidu said, “What did demonetisation achieve? We are seeing the condition of banks today. Big notes should be abolished. What was the need of the 2000 note?”Also Read - TMC MP Sushmita Dev's Convoy Vandalised in Tripura, Party Alleges BJP Behind Attack

It is believed that he was referring to the Reserve Bank of India’s (RBI) annual report in which it was revealed that almost all the Rs 500 and Rs 1,000 currency notes scrapped in November 2016 returned to the banking system. Also Read - ‘Stop Talking About Secularism’: Amarinder Singh Slams Congress, Questions Alliance With Sena

As per RBI report, banks received Rs 15.31 lakh crore or 99.3 per cent of the Rs 15.41 lakh crore worth Rs 500 and Rs 1,000 notes that were in circulation on November 8, 2016 — the day when the note ban was announced. This means that just Rs 10,720 crore of the junked currency notes did not return to the banking system. Also Read - Historic! Over 100 Monuments Lit up in Tricolour to Mark 100 Crore Vaccination in India | See Photos

On Sunday, senior Congress leader Shashi Tharoor also came down heavily on the PM Modi-led government and asked the benefits of the note ban.

Speaking to ANI, Tharoor had said,”After demonetisation, 99.3% of notes have returned. Then why were people made to go through so much difficulty? What was its benefit? Govt has no answers.”

Earlier, the Congress party had demanded an apology from Prime Minister Narendra Modi, alleging he lied to the country over the demonetisation issue. The grand old party had claimed that the return of 99.3 per cent junked notes meant that the government had failed to unearth any black money, check terror financing and eradicate fake currency as promised by Modi while announcing note-ban.