RBI Governor to brief Parliamentary panel on demonetisation

Reserve Bank of India Governor Urjit Patel will brief the Parliamentary Committee on Finance about the demonetisation process and its impact on Thursday.

Since banning of old 500 and 1000 rupee notes on November 8, the government has taken a host of measures like service tax sops and incentives to promote digital payment and ease the problems arising out of less currency being available in the market.

RBI had last week said that Rs 12.44 lakh crore in demonetised notes have been collected at banks. Also, banks have issued Rs 4.61 lakh crore to the public since November 8-9 through ATMs and bank counters.