Business Other News 06 Jan 2017 No figure on notes y ...

No figure on notes yet, says RBI

DECCAN CHRONICLE.
Published Jan 6, 2017, 6:56 am IST
Updated Jan 6, 2017, 7:04 am IST
There had been various estimates on SBNs tendered in certain sections, Says RBI
 Reserve Bank of India
  Reserve Bank of India

Mumbai: In a bid to put to rest speculation on the quantum of scrapped notes deposited in banks and post offices, the Reserve Bank of India on Thursday said it is reconciling invalid currency with physical cash balance and will release the numbers at the earliest.

The RBI’s clarification on old Rs 500/Rs 1,000 comes in the backdrop of various reports estimating that over 95 per cent of the defunct notes have been returned till December 30, the last date for depositing old currency.

 

“There had been various estimates on SBNs tendered in certain sections. We would like to clarify that the periodical SBN figures released by us were based on aggregation of accounting entries done at the large number of Currency Chests all over the country,” the RBI said.

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