The Reserve Bank on Wednesday said banks have issued currency worth over Rs 5.92 lakh crore to the public since the demonetisation of old high value notes last month. The central bank also said that it has issued 2.2 billion (220 crore) pieces of notes of new Rs 500 and Rs 2,000 during the period -- November 10 to December 19.
The currency infused into the system, however, is much less than what has been deposited in the form of defunctnotes. The old Rs 500 and Rs 1000 notes returned to RBI and Currency Chests amounted to Rs 12.44 lakh crore as on December10.
Consequent to the announcement of withdrawal of Legal Tender status of banknotes of Rs 500 and Rs 1000 denominations from the midnight of November 8, 2016, the RBI said, it madearrangements for supply of "adequate quantity" of banknotes in various denominations to the public through the banks.
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