RBI Says Nearly 83% currency remonetised: RBI

Shital Jibhe / 08 Jun 2017

RBI Says Nearly 83% currency remonetised: RBI

Addressing the media on Wednesday, the Reserve Bank of India (RBI) Deputy Governor B P Kanungo said that nearly 83% of the currency has been remonetised so far.

Addressing the media on Wednesday, the Reserve Bank of India (RBI) Deputy Governor B P Kanungo said that nearly 83% of the currency has been remonetised so far.
 
RBI also said that there was no shortfall of cash in the system. However, the data on the amount of demonetised currency returned back is not available yet.
 
"According to our data, 82.67% of the currency has been remonetised and in volume terms, it is 108%," said RBI deputy governor, B P Kanungo.
 
Despite admitting that, Kanungo agreed that there could be shortage of cash in some areas but disagreed with the view of currency shortage on a long-term basis at any place.
 
The RBI deputy governor further said that the central bank was keeping an eye on the situation and had made enough arrangements to address the same.

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