The Reserve Bank of India (RBI) said on Tuesday that the banking system had received deposits worth Rs12.44 trillion in the month till 10 December, after the government invalidated high-value currency notes. Banks have remained open on most days through this period after Prime Minister Narendra Modi announced that Rs500 and Rs1,000 notes would no longer be legal tender.
The number of higher denomination of new Rs500 and Rs2,000 notes stood at 1.7 billion, RBI deputy governor R. Gandhi said. Photo: Reuters
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