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As much as 99.3 per cent of the junked Rs 500 and Rs 1,000 notes have returned to the banking system, the RBI said today, indicating that just a miniscule percentage of currency was left out of the system after the government's unprecedented note ban aimed at curbing black money and corruption. The Reserve Bank of India (RBI), which has taken an awfully long time to count the currency that was returned in the limited period window provided by the government to exchange or deposit the demonetised currency, said in its Annual Report for 2017-18 that the exercise is finally over. 

Panchayati Raj system is based on the principle of Decentralisation. Panchayati Raj is an important feature of Indian polity ensuring direct participation of common people (Article 243 G – 243 H) in decision making. this system was introduced by a constitutional amendment in 1992.