Only 87% of Rs 2,000 rupees withdrawn were returned to banks

Following the announcement of the bimonthly monetary policy review, Das told a press conference that 12,000 crore of the 3.56 lakh crore worth of Rs 2,000 notes that were in circulation as of May 19, 2023, have not yet been replaced. Read more: India set to launch the RuPay Domestic Card Scheme in the UAE Shaktikanta Das, governor of the Reserve Bank, reported on Friday that 87% of the Rs 2,000 notes that were being withdrawn had been deposited back into banks, with the remaining 23% being exchanged between counters.

Notes worth Rs 3.42 lakh crore had been returned

The RBI reported last Saturday that as of September 29, Rs 3.42 lakh crore in notes had been received back, and Rs 14,000 crore was still pending. The deadline for the exchange of the notes was also extended by the central bank by a week. According to Deputy Governor J. Swaminathan, the RBI highlighted the issue of personal loans and advised banks to take action to avoid any risk build-up because of the "outlier" loan increase of 33% compared to the overall credit growth of 13–14%. Das urged the financiers to take the necessary action in the areas where the crisis is most likely to arise. In addition, the governor claimed that if one were to believe the unaudited statistics, the gross non-performing assets had decreased in the June quarter. Shaktikanta Das stated that the RBI will "emphatically" focus on the 4% headline inflation objective, and that monetary policy will be actively disinflationary until the price rise number falls. The RBI, as the government's lender, is unconcerned about the central government's finances, according to Das. OTT India updates you with the latest news, The Country’s no.1 digital news platform OTT India. Keeps you updated with national, and international news from all around the world. For more such updates, download the OTT India app on your Android and IOS device