Demonetisation: Bank Deposits Watch

Last Modified: Tue Dec 13 2016 18:28:18 GMT+0530 (India Standard Time)
  • Rs. 15.44 lakh crore
    was in circulation in Rs. 500 and Rs. 1000 note denominations, as on 08 Nov 2016 according to a written statement to Parliament by Minister of State for Finance Arjun Ram Mehgwal.
  • 17,165 million
    pieces of Rs.500 notes were in circulation.
  • 6,858 million
    pieces of Rs.1,000 notes were in circulation.
  • Rs. 10 lakh crore
    Amount the government expects to come back into the banking system. This was stated in an affidavit submitted to the Supreme Court last month.
  • 5.44 lakh crore
    difference between amount in circulation on 08 Nov 2016 and what the govt projects will be deposited by 30 Dec 2016. Technically, this could be treated as the amount by which RBI's liability could be reduced and it could have in turn, passed on the money thus saved as dividend to the government.
  • Rs 12.44 lakh crore
    Amount deposited in old notes based on information shared by sources on condition of anonymity, as on 13 Dec 2016. Sources feel the endless stream of deposits illustrate that those with illegal hordes have been able to find ways to convert "black" into deposits.
  • 3.00 lakh crore
    gap between high denomination in circulation as on 08 Nov and deposits with bank as on 13 Dec. As this gap shrinks so will the effectiveness of the decision to demonitise.