Data crunching: Has Rs 9.2 lakh cr of new currency been issued to public?

Reports of what transpired in the parliamentary standing committee on finance on Wednesday have only added to the confusion over how much of the banned currency has been remonetised by the Reserve Bank of India (RBI).

According to reports, Urjit Patel, governor of RBI, told the committee Rs 9.2 lakh crore of new currency had been issued so far. This figure is at odds with RBI’s most recent data on currency in circulation. 

According to a RBI press release, total currency in circulation stood at Rs 9.5 lakh crore as on January 13. This includes currency with the public as