Sunday, March 16, 2025 | 06:22 PM ISTहिंदी में पढें
Business Standard
Notification Icon
userprofile IconSearch

Almost 12 lakh crore old notes deposited in banks so far: RBI

Almost 11.85 lakh crore notes have been deposited so far

An image of RBI headquarters in Mumbai (Photo: Kamlesh Pednekar)

An image of RBI headquarters in Mumbai (Photo: Kamlesh Pednekar)

IANS Mumbai

Almost 12 lakh crore demonetised Rs 500 and Rs 1,000 notes have been deposited by the public since the November 8 announcement, R. Gandhi, Deputy Governor, Reserve Bank of India (RBI), said here on Wednesday.

"Almost 11.85 lakh crore notes have been deposited so far," Gandhi said while addressing a press meet following the central bank's bi-monthly monetary policy review.

The RBI has kept the key lending rates unchanged in its review.

S.S. Mundra, deputy governor, RBI, said the impact of demonetisation on the gross domestic product (GDP) growth rate would "only be 15 basis points and it would be transient."

 

However, the apex bank lowered the GDP growth forecast by 50 basis points to 7.1 per cent from 7.6 per cent.

 

Don't miss the most important news and views of the day. Get them on our Telegram channel

First Published: Dec 07 2016 | 3:45 PM IST

Explore News