RBI has pumped in Rs5.5 trillion in new currency so far: Shaktikanta Das
Finance ministry official Shaktikanta Das says RBI will infuse more currency in the system as soon as possible
New Delhi: The Reserve Bank of India (RBI) has pumped in Rs5.5 trillion in new currency so far and more currency will be infused in the system as soon as possible, a top finance ministry official said on Saturday.
“So far 5.5 lakh crore fresh currency notes have been infused in the market, because old notes of worth Rs5.50 lakh crore have come back to RBI," department of economic affairs secretary Shaktikanta Das said.
In the last five weeks, the situation has improved everywhere, he told a news channel. The economic affairs secretary said the finance ministry has held meeting with the National Bank for Agriculture and Rural Development (NABARD) to identify daily cash requirement of 360 district cooperative banks.
“We have identified daily cash requirement of 360 District Cooperative Banks with NABARD officials. NABARD has given us list of daily cash requirement of each district cooperative bank and we have sent that list to RBI," Das said.
Das stressed that the government is providing money to farmers keeping in mind requirement of their crop loans.
Unlock a world of Benefits! From insightful newsletters to real-time stock tracking, breaking news and a personalized newsfeed – it's all here, just a click away! Login Now!