Post demonetisation, a huge amount of cash has been deposited into the banks by the people. Rs 5.45 lakh crore have been deposited in the banks so far as the old 500 and 1000 denomination notes stand scrapped as said by the Reserve Bank of India on Monday.
Rs 5.45 lakh deposited in banks after Demonetisation
The amount of money withdrawn by people through banks and ATMs from November 10 to November 18 is Rs 1.03 lakh crore approximately.
Many measures have been taken by the government to ease the enormous crowd outside the banks and ATMs. Recently, it has undertaken the task of recalibration of ATMs to enable them for dispensing the new notes of denomination 500 and 2000.
The process of transporting money to the banks is now being done by making use of the helicopters of the Indian Air Force. With this, the time period of transportation has been reduced from 21 days to 6 days.
In the new official statement given by the government on Monday, the farmers will now be allowed to buy seeds with the old notes of Rs 500. Also, the withdrawal limit has been increased to Rs 50000 per week through the cash credit account and the current account.
The government has also introduced more stringent actions to be taken under the Benami transactions act against the ones who will deposit their black money into the bank account of a friend or relative to avoid coming under the scanner of the income tax department.
While the rush outside the ATMs is still not any less. Many people have been taking an off from work in order to withdraw new notes.
