Insta
RBI Says Rs 11.55 Lakh Crore In Invalidated Currency Notes Returned Post Demonetisation
Swarajya Staff
Dec 07, 2016, 04:57 PM | Updated 04:57 PM IST
Save & read from anywhere!
Bookmark stories for easy access on any device or the Swarajya app.
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.
RBI on demonetisation. pic.twitter.com/QZrLi3nVlT
— BloombergQuint (@BloombergQuint) December 7, 2016
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.
RBI on demonetisation. pic.twitter.com/66PwOkyVyl
— BloombergQuint (@BloombergQuint) December 7, 2016
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.
FB LIVE | RBI Governor on demonetisation. https://t.co/OnSjO4N7xK pic.twitter.com/ZbqzERZDt8
— BloombergQuint (@BloombergQuint) December 7, 2016
Save & read from anywhere!
Bookmark stories for easy access on any device or the Swarajya app.
Introducing ElectionsHQ + 50 Ground Reports Project
The 2024 elections might seem easy to guess, but there are some important questions that shouldn't be missed.
Do freebies still sway voters? Do people prioritise infrastructure when voting? How will Punjab vote?
The answers to these questions provide great insights into where we, as a country, are headed in the years to come.
Swarajya is starting a project with an aim to do 50 solid ground stories and a smart commentary service on WhatsApp, a one-of-a-kind. We'd love your support during this election season.
Click below to contribute.