Fake currency notes with a face value of Rs 3.5 lakh have been seized and two persons detained in Odisha's Sonepur district.
The Reserve Bank of India is expected to keep interest rates steady well into next year after it shifted to a neutral monetary policy stance in February.
Notwithstanding the impact of note ban, India returned to fiscal consolidation in the FY17 largely due to the near-elimination of fuel subsidies.
The IMF trimmed India's annual growth forecast by 0.4 percentage points to 7.2% for 2017, citing the note ban impact.
Hit hard by the note-ban, securitisation volume of microfinance institutions (MFIs) fell 21% to around Rs 7,150 cr in fiscal 2017 compared to Rs 9,000 cr last year.
The I-T dept will investigate over 60,000 individuals under the second phase of the 'Operation Clean Money' with an aim to detect black money.
The transactions using various digital payment modes went up to 63.80 lakh with a total transaction value of Rs 2,425 cr till March this year.
Even as data shows increase in cash usage again, the NPCI said demonetisation helped get 5 crore new customers on digital mediums and over 3 crore have stayed on.
Banks have been cutting rates in the recent times as they want to use liquidity available with them, Jaitley said.
The RBI is still calculating and taking stock of the currency that was returned to banks post demonetisation, Finance Minister Arun Jaitley said.