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India cenbank pumped in 9.2 tln rupees worth of new notes so far - source
January 18, 2017 / 11:12 AM / 8 months ago

India cenbank pumped in 9.2 tln rupees worth of new notes so far - source

NEW DELHI, Jan 18 (Reuters) - The Reserve Bank of India has injected 9.2 trillion rupees ($135.21 billion) worth of new currency notes into the banking system to help replace the notes banned in November, a parliamentary source quoted central bank governor Urjit Patel as saying on Wednesday.

Patel met a parliamentary panel on finance on Wednesday to answer questions about the country’s recent move to abolish 500 and 1,000 rupees notes, or 86 percent of the currency then in circulation, in a bid to unearth billions of dollars of unaccounted money.

About 15.4 trillion rupees worth 500 and 1,000 rupees notes were removed from circulation after the Nov. 8 announcement from the government. ($1 = 68.0429 Indian rupees) (Reporting by Nigam Prusty; Writing by Suvashree Dey Choudhury; Editing by Rafael Nam)

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