RBI Says Rs 11.55 Lakh Crore In Invalidated Currency Notes Returned Post Demonetisation

Dr Urjit Patel (PUNIT PARANJPE/AFP/GettyImages

The Reserve Bank of India (RBI) said on Wednesday that around Rs 11.55 lakh crore in invalidated currency has been returned to the system after the announcement of demonetisation on 8 November.

Speaking during a briefing on RBI’s monetary policy, the central bank’s Deputy Governor, R Gandhi, said that the exercise had to be carried out in secrecy. He stated that efforts were and to minimise the difficulties faced by people and almost 4 lakh crore of currency was supplied to the people post 10 November.

The withdrawal of currency will have no impact on the RBI’s balance sheet, and hence there is no occasion for a special dividend, Gandhi added.

Adding to this, RBI governor Urjit Patel said that the bank is aware of the difficulties faced by the people and is confident about meeting their demands. Iterating what Gandhi had said, Patel stated that the bank has supplied 19 billion notes to the public.

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