Only 10 percent of Rs.500, Rs.1000 are exchanged at banks, RBI
Posted on: 22/Nov/2016 2:40:30 PM
According to Reserve Bank of India’s reports, only 10 percent of demonetized Rs 500 and Rs 1000 notes are exchanged at banks.
Further, in the report, it is stated that the Rs 500 and Rs 1000 notes that were in use was worth Rs 14 lakh crore. Out of this, only Rs 36,000 crore is exchanged at banks and over Rs 5,44,000 crore is made as account deposit. Out of this, Rs 3006 crore is withdrawn from ATM and Rs 33,006 is directly exchanged. Considering all these exchanges made, only Rs 10 lakh crore worth Rs 500 and Rs 1000 notes is exchanged for new notes and equivalent new notes are to be printed.
