In the first ten days after the demonetization move was announced, Rs 5.44 lakh crore was exchanged/deposited in the banks while Rs 1.03 lakh crore was disbursed via ATMs and counters, according to RBI.
Rs 33,006 cr was exchanged between November 10 and November 18, the RBI said in a statement.
People are thronging banks from November 10, for exchange, deposits and withdrawal, the day they opened after the announcement of demonetization.
Meanwhile, the government announced several exceptions allowing people to use invalid currency notes for buying petrol/diesel, rail and air tickets, payment of public utilities, taxes and government hospitals.
On Monday, the government allowed farmers to purchase seeds for the rabi crops using old Rs 500 notes from government outlets or state, central agriculture university.
Courtesy:- Hindustan Times.
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