Banks get Rs 5.44 lakh crore worth of banned notes

NewsDesk
Banks get Rs 5.44 lakh crore worth of banned notes

People have deposited or exchanged Rs 5.44 lakh crore worth of Rs 500/1,000 notes at different banks till November 18 following demonetisation of the higher denomination currency. 

The banks also disbursed Rs 1,03,316 crore over the counter and via ATMs between November 10 and November 18, the Reserve Bank said in a statement. 
"Banks have since reported that such exchange/deposits effected from November 10, 2016 up to November 18, 2016 amounted to Rs 5,44,571 crore (exchange amounted to Rs 33,006 crore and deposits amounted to Rs 5,11,565 crore). 

Today, the government allowed farmers to purchase seeds for the rabi crops using old Rs 500 notes from government outlets or state, central agriculture university. 
 

 

Banks get Rs 5.44 lakh crore worth of banned notes

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