B. P. Kanungo, RBI deputy governor release his statement that according to their latest data, 82.67% of the currency has been remontised and in volume terms that is 108% so far and denied there was any shortage of cash in the system.
The report by the government said that demonetized old Rs 500 and Rs 1,000 notes, junking nearly 87% of currency in circulation on November 9. The demonetized notes returned back, continues to be elusive. Kanugo added to his statement, it would be wrong to assume there is any shortage of currency in the system.
RBI is monitoring the situation on a regular basis and several arrangements have been made to replenish cash as well as Kanugo admitted that there could be a shortage of currency in some areas.
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