 "Banks get Rs 5.4 lakh cr of scrapped notes, people withdraw over Rs 1 lakh cr")
Reserve Bank of India today said that banks have disbursed Rs 1,03,316 crore to customers through branches and ATMs since November 10 till November 18, 2016.
Banks have garnered Rs 5,44,571 crore (exchange amounted to Rs 33,006 crore and deposits amounted to Rs. 5,11,565 crore), RBI said in statement.
Banks had resumed operations on November 10, 2016 after they kept branches closed forn public interface on November 09 to prepare for receiving old notes for which legal lender status was withdrawn.
On November 8, 2016 the government had withdrawn legal tender status for old 500, and Rs 1,000 currency notes.
RBI made arrangements for exchange and /or deposit of such notes at the counters of the Reserve Bank and commercial banks, Regional Rural banks and Urban Cooperative Banks.
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