PARLIAMENTARY STANDING COMMITTEE MEETING ON DEMONETIZATION

It is learnt that RBI has replaced around 60 per cent of the old demonetized currency notes, as per revelations by the RBI Governor before the Parliamentary Standing Committee. The currency value was said to be Rs. 9.2 lakh crores,  the questions viz the money deposited in banks after demonetization and the time by which the cash supply situation would ease were unanswered by the Governor.  The amount withdrawn from the system due to note ban was estimated to be Rs. 15.4 lakh crore.   Many members felt that the Autonomy of RBI was required to be protected.