Demonetisaton: RBI may have received Rs 15 lakh crore deposits old notes

- Alive Correspondent   05-01-2017

          


The Reserve Bank (RBI) is may have received deposits close to Rs 15 lakh crore, of estimated Rs 15.4 lakh crore worth junked Rs 500/1,000 currency old notes that were in circulation, from the 50-day demonetisation exercise that ended on December 30.When asked if about Rs 15 lakh crore has come to the system till December 30, finance minister Arun Jaitley said, "I don't know the number."
 
According to sources, between Rs 14.5 lakh crore and Rs 15 lakh crore may have come back into the banking system and RBI is still doing reconciliation and cross-checking.
 
When asked if about Rs 15 lakh crore has come to the system till December 30, finance minister Arun Jaitley said, "I don't know the number."
 
Finance Ministry had said that there were lot of areas where double counting could have happened.
So the finance ministry had identified those areas and had requested RBI and banks to again double check.
Sources said,
Final figure on the amount of deposits received during the demonetisation period should be announced by RBI in the next few days.

The last official number on this was only till December 10 when RBI said that the old notes of Rs 500 and Rs 1,000, which have been returned to the central bank and the currency chest amounted to Rs 12.44 lakh crore.
 
On the last day of demonetisation, RBI had asked all banks including cooperatives to report details of deposits of old Rs 500/1,000 notes to it after the close of banking hours.
 

 


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