Business Other News 05 Jan 2017 Stash estimates go a ...

Stash estimates go awry, most old notes deposited

DECCAN CHRONICLE.
Published Jan 5, 2017, 6:40 am IST
Updated Jan 5, 2017, 6:47 am IST
This money was expected to be passed on to the government by the Reserve Bank of India in the form of dividend.
Banks have received Rs 14.97 lakh crore ($220 billion) of the demonetised currency as of December 30, according  to a news agency report on Wednesday quoting government sources. (Representational image)
 Banks have received Rs 14.97 lakh crore ($220 billion) of the demonetised currency as of December 30, according to a news agency report on Wednesday quoting government sources. (Representational image)

New Delhi: People have deposited nearly all demonetised Rs 500 and Rs 1,000 currency till December 30 which would mean that government may not realise any huge bonanza.

Banks have received Rs 14.97 lakh crore ($220 billion) of the demonetised currency as of December 30, according  to a news agency report on Wednesday quoting government sources.

 

It was earlier expected that a large portion of the unaccounted money may not get presented in the banking system and hence reduce the RBI’s and the government’s liability. This money was expected to be passed on to the government by the Reserve Bank of India in the form of dividend.

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Location: India, Delhi, New Delhi




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