Latest developments in the demonetisation drive indicate that cash deposits of Rs 500 and Rs 1,000 notes have exceeded the government's estimates.Attorney General Mukul Rohatgi told the Supreme Court on Friday that since November 8, deposits of around Rs 12 lakh crore have come back into the banking system. The amount is higher than government's estimate, said the AG.
In the coming days, the deposits could go up by another Rs 1 lakh crore, Rohatgi told apex court, while assuring the SC that Rs 4 lakh crore worth new notes have been printed. He added that about Rs 3.5 lakh crore notes of Rs 500 and Rs 2,000 denomination have been pumped back into the banking system.
Meanwhile, the apex court has made special emphasis on interim measures that are required and expects the government to clarify on them. The government has also been directed to clarify on issue pertaining to co-operative banks and rationing of cash in banks.
The next hearing will resume on December 14.Watch video for more.
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