Following the demonetisation of 500 and 1000 rupee notes worth over Rs 14 lakh crore, new notes worth only Rs 1.5 lakh crore have come into circulation so far, says a November 25 Credit Suisse research report.
A large share of this amount has been in the form of new Rs 2,000 notes, which the report says are “not ideal for transacting.”
The new Rs 1.5 lakh crore supplement the Rs 2.2 lakh crore of residual currency, already in circulation.
Estimates say that Reserve Bank of India may take “several months” to replace the 2,203 crore pieces of demonetised Rs 500 and Rs 1,000 notes, worth Rs 14.18 lakh crore.
“To meet the new currency demand, industry estimates indicate that the RBI has already been able to print 150 crore (Rs 3 lakh crore worth of currency). However, these notes being high value and with remaining currency
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