RBI says Rs 12.44 lakh crore collected at banks in demonetised notes

RBI also requested the public to freely use the notes they have rather than holding them

RBI says Rs 12.44 lakh crore collected at banks in demonetised notes

The Reserve Bank on Tuesday said banks across the country have collected Rs 12.44 lakh crore in demonetised notes of Rs 1000 and Rs 500 as of today.

RBI Deputy Governor R Gandhi also said the banks have issued Rs 4.61 lakh crore to public after demonetisation announcement through ATMs and bank counters, PTI reported.

"RBI has issued 21.8 billion pieces of banknotes of various denominations since demonetisation," he said.


Gandhi also requested the public to freely use the notes they have rather than holding them.

Reports recently said the State Bank of India has found that over Rs 300 crore currency, which was exchanged via its ATMs between November 8 and 25, to be counterfeit notes.

A bank official, who expected the figure to go up to Rs 1,000 crore said this was found in SBI alone and the scale would be much more given its 6 associate banks and the rest of the banking system,
Narada News
reported earlier.

Though ATMs have cameras, it will be a very painful and expensive affair to find out who deposited the counterfeit notes, the official said.

Meanwhile, the Central Bureau of Investigation (CBI) today arrested a senior Reserve Bank of India official and two others in Bengaluru for allegedly laundering large sums of demonetised currency, reports said.

The arrests occurred after multiple raids in which Rs. 5.7 crore and Rs. 93 lakh were found in brand new Rs. 2,000 notes, NDTV reported.

RBI said the notice have been issued to all banks for data checking and the bank has suspended junior official allegedly involved in laundering.

The arrest comes at a time when frequent raids by ED officials and the police are leading to confiscation of huge sums of money in form of new currency notes from across the country.

On Monday, the Enforcement Directorate (ED) sleuths busted a money conversion racket and reportedly seized Rs.93 lakh in new currency notes in Bengaluru. Seven persons were arrested in the case.