Double counting possible? Govt asks RBI to recheck deposit data for old notes

Economic affairs secretary says double counting possible; cash availability to improve in three weeks

Demonetisation, Cash

The government has asked the Reserve Bank of India (RBI) to re-examine the figures for the demonetised amount that has come back into the system. Double counting is possible, said Shaktikanta Das, economic affairs secretary. He said the Centre expects half the demonetised amount of Rs 15.4 lakh crore to be distributed by banks by end-December but did not say when the withdrawal limits from banks and automated teller machines (ATMs) would be lifted.  Earlier this week, RBI said Rs 12.44 lakh in demonetised notes had come back to the banks.  “In the ...