Home / currency / Rs 14 lakh crore returns to banks; govt officials term scheme a success

Rs 14 lakh crore returns to banks; govt officials term scheme a success

collected by :Donald Luther

follow the latest news and price to oil from different sites most famous technicals / by 2017-01-09 at 13:40

according to

Rs 14 lakh crore returns to banks; govt officials term scheme a success

Rs 14 lakh crore returns to banks; govt officials term scheme a success*/

A report in The Indian Express citing a government official has said that as much as Rs 14 lakh crore worth of old Rs 500 and Rs 1,000 currency notes have returned into bank accounts, an indication that the notes that got extinguished was much lower than expected.The government was expecting that about Rs 3 lakh crore will not return to the banking fold, thus resulting in reduction of RBI’s liability to that extent.If, as the government official has told the news paper, Rs 14 lakh crore has returned, that means only about Rs 75,000 crore would have been extinguished, says the report.
.

read more from here

Demonetisation: Rs 14 lakh crore in old notes are back, only Rs 75,000 crore out

Demonetisation: Rs 14 lakh crore in old notes are back, only Rs 75,000 crore out*/

As on November 8, just before demonetisation, of the approximately Rs 17.50 lakh crore currency in circulation, the Rs 500 and Rs 1,000 notes made up about Rs 15.50 lakh crore, or 88 per cent of the total.(Representational image) As on November 8, just before demonetisation, of the approximately Rs 17.50 lakh crore currency in circulation, the Rs 500 and Rs 1,000 notes made up about Rs 15.50 lakh crore, or 88 per cent of the total.(Representational image)The government is resigned to the prospect of only about Rs 75,000 crore in demonetised Rs 500 and Rs 1,000 notes not returning to the formal banking system, a top official said.
.

read more from here

Over Rs 3 lakh crore deposited in 2 crore new bank accounts post-demonetisation: report

Over Rs 3 lakh crore deposited in 2 crore new bank accounts post-demonetisation: report*/

The government’s study of financial data to understand and analyse the impact of demonetisation has thrown up some interesting figures.According to the data, the notes ban announcement on November 8 was followed by the creation of over two crore bank accounts and deposits over Rs 3 lakh crore made in the 40 days of demonetisation.Between November 15 and December 25, 2016, 2.10 crore bank accounts were created and over Rs 3 lakh crore was deposited in them.
.

read more from here

Demonetization: 40 days, 2 crore new bank accounts, Rs 3 lakh crore in deposits

Demonetization: 40 days, 2 crore new bank accounts, Rs 3 lakh crore in deposits*/

This is according to the data compiled by the Financial Intelligence Unit (FIU).Two crore new bank accounts were opened in 40 days after demonetization and Rs 3 lakh crore was deposited in them, a report in The Economic Times said.The data about the new bank accounts and deposits was compiled by Financial Intelligence Unit (FIU) and was later accessed by the government.
.

read more from here

read more
visit us
currency

Check Also

Bitcoin value bubble: Information Systems digital currency about to crash & burst picture-13676-310x165

Bitcoin value bubble: Information Systems digital currency about to crash & burst

collected by :Donald Luther GETTY Bitcoin value can be a bubble which crashes, according to …