24.11.16

Bank deposits with RBI hit record high after demonetisation

Bank deposits with RBI hit record high after demonetisation


In the wake of demonetisation, bank deposits with the Reserve Bank of India (RBI) have reached a record high of Rs. 4.3 trillion, beating the earlier record of Rs. 1.7 trillion in May 2009. The RBI accepts money from various banks by offering government securities as collateral. The Indian banking system had collected deposits worth Rs. 5.12 trillion as of 18 November.

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