RBI refrains from releasing asset liability figures
This is probably the first time, RBI has not come out with the figures for week ended June 30.
New Delhi: The Reserve Bank has refrained from releasing its asset liability figures for the week ended June 30, which is also the last day for depositing defunct currency notes by NRIs.
June 30 is also the last day of July-June financial year followed by the central bank.
This is probably for the first time, RBI in its Weekly Statistical Supplement has not come out with the figures for week ended June 30. "The figures for Friday, June 30, 2017 will be published as part of RBI's Balance Sheet in August 2017 in the Annual Report of the bank," RBI said in its latest statistical supplement. Instead, the central bank has given figures for the week ended July 7.
Last week, RBI Governor Urjit Patel informed a parliamentary standing committee that the bank was still not in a position to provide the exact amount of demonetised currency returned to the central bank.
He also said the RBI has cut staff holidays to complete counting of currency notes and ordered more machines to expedite the process. The central bank chief said employees were working "round-the-clock" except on Sundays.
As part of efforts to fight corruption and black money menace, the government last year demonetised old Rs 500 and Rs 1,000 currency notes. As on November 8, 2016, the total amount of currency in circulation was Rs 17.7 lakh crore, which included specified bank notes (SBNs) of Rs 500 and Rs 1,000.
There was a 50-day window for exchanging old notes at banks and post offices from November 9 to December 30. After December 30, designated offices of RBI accepted junked notes till June 30 under various categories.
Besides, Indians who were abroad during November 9 to December 30 were given a three-month grace period till March 31 to deposit junked notes. In the case of NRIs, the window was open till June 30.