Banks Got Rs 12.44 Lakh Crore in Old Notes Until 10 December: RBI

RBI told the public to freely use the notes that they have in their hands rather than hoard it.

The old Rs 500 and Rs 1,000 notes. (Photo: AP)

The Reserve Bank of India on Tuesday said banks have garnered Rs 12.44 trillion (Rs 12.44 lakh crore) in banned notes till 10 December, while they have issued Rs 4.61 trillion to them since the demonetisation drive began 35 days ago.

In volume terms, the number stood at 21.8 billion pieces of notes of various denominations, of which 20.1 billion pieces were of Rs 10, Rs 20, Rs 50 and Rs 100. The number of higher denomination of new Rs 500 and Rs 2,000 notes stood at 1.7 billion, said RBI Deputy Governor, R Gandhi.

The entire system is continuously gearing up for supporting the circulation of notes in the hands of the public. Daily, we are issuing more and more notes, getting it printed and issuing it and this will be a continuous affair. The public are requested to freely use the notes that they have in their hands rather than hoard it.

R Gandhi, Deputy Governor of RBI