December 15, 2016 / 12:12 PM / 8 months ago

India infuses $74 billion of cash post Nov 8 - official

The Reserve Bank of India (RBI) seal is pictured on a gate outside the RBI headquarters in Mumbai, February 2, 2016.Danish Siddiqui/Files

NEW DELHI (Reuters) - India's central bank has infused more than 5 trillion rupees (59.08 billion pound) of currency notes into the banking system since Nov. 8, Economic Affairs Secretary Shaktikanta Das told reporters on Thursday.

This is a fraction of the 15.44 trillion rupees in 500- and 1,000-rupee notes that were circulating before Prime Minister Narendra Modi abolished them last month, in a surprise move targeting counterfeiters and people holding undeclared wealth.

Reporting by Manoj Kumar; Editing by Malini Menon

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below