Old Notes Worth Rs 12.44 lakh cr Deposited till Dec 10: RBI

By : 14-Dec-2016
Banks, Rs 12.44 Lakh Cr, RBI

The Deputy Governor of RBI, Mr. R Gandhi on Tuesday has asserted that Rs 12.44 lakh crore of the scrapped currency notes (Rs 500 and Rs 1000) has been registered to have deposited in banks amid November 8 to December 10.

The Deputy Governor S.S. Mundra has informed about the notes worth Rs 12.44 lakh crore been deposited till December 10. The Central bank was simultaneous issuing new notes on a daily basis to meet the requirement of the nation.

S.S. Mundra said “We have been issuing more and more notes. The RBI has printed 1.8 billion notes of Rs 2,000 and Rs 500 and even printed 20 billion of smaller denominations.”

The RBI has instructed the banks to perform Central Data Checking and take action against officials involved in unlawful offence. The banks have been lodging complaints against errant officials and investigating about any suspicious data.

Mundra has also disclosed information that the CBI has caught and suspended K. Michael, a Senior Special Assistant working in the Issue Department of RBI’s regional office in Bengaluru for being involved in dubious money laundering affairs.

Michael, was engagement in conversion of cash worth Rs 6 lakh into Rs 100 notes at the State Bank of Mysore Kollegal branch in Chamrajpet district.

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