Diabytes
RBI annual report News
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9.72 lakh persons have deposited Rs 2.89 lakh crore in 13.33 lakh accounts post demonetisation, the I-T department said.
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Speaking at The Economist conference, Jaitley said that the fact that money got deposited in banks does not make it legitimate money.
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The RBI in its Annual Report for 2016-17 said that 99 per cent of the junked 500 and 1,000 rupee notes has returned to the banking system.
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Talking about return of 99 percent of junked currency into banking system, Jaitley said that money has now been identified with its owner.
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It also said that barring Rs 100, the detection of counterfeit notes increased across denominations - notably, Rs 500 and Rs 1,000 -- during the last fiscal.
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The Reserve Bank revealed in its annual report for 2016-17 that Rs 15.28 lakh crore, or 99 percent of the Rs 15.44-lakh-crore scrapped currency notes, had come back to the central bank between the government’s demonetisation decision and June 30, 2017.
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The Reserve Bank on Thursday said uncertainty in the progress and distribution of monsoon, a key factor in performance of the farm sector, continues to be a risk for both growth as well as the inflation outlook.
The RBI has projected consumer inflation will hit 6 percent by January 2016 before gradually easing to 4 percent two years later.
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