Congress Vice President Rahul Gandhi on Wednesday slammed Prime Minister Narendra Modi for demonetisation and asked if he will own up for the “colossal failure wich cost innocent lives and ruined the economy”.

“A colossal failure which cost innocent lives and ruined the economy. Will the PM own up,” asked Gandhi on Twitter following release of the Reserve Bank of India’s data on demonetisation.

Revealing the low efficacy of last November’s demonetisation of high-value currency, the RBI said on Wednesday that of the Rs 15.44 lakh crore of notes taken out of circulation, Rs 15.28 lakh crore, or almost 99 per cent, had returned to the system by way of deposits by the public.