India, December 14, 2016: In a startling revalation today, the RBI claimed that banks in the country have received 12.44 lakh crores or $184.24 billion in old 500 and 1,000-rupee notes till December 10, since the currency ban. It also said that banks have so far issued 4.61 lakh crores in new currency notes to people over the counter and through ATMs.Also Read - Revised Bank Locker Guidelines to Come Into Effect From Jan 1: Rules Customers Must Know
Until now approximately 80 per cent of the 15.4 lakh crore money has been deposited in banks, 13 lakh crore notes of 500 and 1000 are further expected to be deposited. According to experts, 13 to 13.5 crore rupees are expected to be deposited till December 2016. The central bank said today that it has, since the notes ban, printed about 1.7 billion new 500 and 2,000 rupee notes and 20.1 billion pieces of 10, 20, 50 and 100 rupee notes. A total 24 billion 500 and 1,000 rupee notes were withdrawn. Also Read - Unaware of Demonetisation, Visually Challenged Beggar Seeks Exchange of RS 65,000 Life Savings
After the 8th of November, CCTV has been used to detect whether the notes that have been used after 8th November to 30th December are “illegal accumulations of new currency notes”. Some bank officials have also been booked for helping people convert their money from black to white. Also Read - RBI Imposes Rs 1 Crore Penalty On Paytm Payments Bank | Here's Why
The RBI said that it has instructed banks to conduct central data checking and take action against officials found involved in unlawful activities. “Banks have taken action against errant officials. Banks must investigate when the data is suspicious,” said Mundra. He denied reports that the RBI had issued a show-cause notice to Axis Bank and was planning to cancel its banking licence following allegations of malpractices in currency exchange at many of Axis bank’s branches.