Rs 5.4 Lakh Crore Deposited With Banks Since Demonetisation Announcement

Mumbai: A total of Rs 5.4 lakh crores have been deposited with banks across the country from November 10 to November 18, 2016, the Reserve Bank of India (RBI) said.

This includes deposits made at the RBI, commercial banks, urban cooperative banks and also regional rural banks, the RBI said. Following the demonetisation of Rs 500 and Rs 1,000 denomination notes, the RBI made arrangements at these banks to exchange or deposit such notes. Giving a break-up of the exchange and deposits since then, the RBI said currency exchange amounted to Rs 33,006 crore while deposits during the same period were Rs 5,11,565 crore. Meanwhile, customers withdrew Rs 1,03,316 crore from their accounts through ATMs and over the counter since November 10, the RBI added.