State Bank of India has estimated that money worth Rs.2.5 lakh crore may not come back into the banking system post demonetisation of high-value notes. SBI noted that going by data as on November 9, the amount of high currency denomination notes was Rs.15.44 lakh crore (excluding cash in the banks), an increase of Rs.1.26 lakh crore compared to the March figure.
Between November 10-27, Rs.8.44 lakh crore were deposited and exchanged in banks, the report said. “All these estimates put together show that total money coming into the system in the form of high denomination will be around Rs.13 lakh crore (as against Rs.15.44 lakh crore high value notes as on November 9),“ it added.
Between November 10-27, Rs.8.44 lakh crore were deposited and exchanged in banks, the report said. “All these estimates put together show that total money coming into the system in the form of high denomination will be around Rs.13 lakh crore (as against Rs.15.44 lakh crore high value notes as on November 9),“ it added.
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