Thursday, 5 January 2017

From The Economic Times - Estimates of demonetised notes back with banks may be incorrect: RBI

Reacting to media reports about the quantum of demonetised currency that has been returned to the banks, the Reserve Bank of India on Thursday said such estimates may not be correct.

The RBI said the aggregating of accounting entries made at the various currency chests still requires to be reconciled with the actual cash balances in order to eliminate accounting errors and double counting.

According to a Bloomberg report, nearly 97% of the banned notes may have  ..

Read more at: The Economic Times

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