₹ 5,44,571 crore exchanged or deposited since Demonetization

rbi1Consequent to the announcement of the withdrawal of Legal Tender status of banknotes of ₹ 500 and ₹ 1000 denominations from the midnight of November 8, 2016, ₹ 5,44,571 crore has been exchanged or deposited.

According to the note published on RBI website,Banks have since reported that such exchange/deposits effected from November 10, 2016 upto November 18, 2016 amounted to ₹ 5,44,571 crore (exchange amounted to ₹ 33,006 crore and deposits amounted to ₹ 5,11,565 crore). They have also reported that the public have withdrawn, during this period, ₹ 1,03,316 crore from their accounts either over the counter or through ATMs.