Banks are flooded with cash..Rs 11.55 lakh crore in old Rs 1000/500 in banks

Mumbai: Almost 12 lakh crore demonetised Rs 500 and Rs 1,000 notes have been deposited by the public since the November 8 announcement, R. Gandhi, Deputy Governor, Reserve Bank of India (RBI), said here on Wednesday.

"Almost 11.85 lakh crore notes have been deposited so far," Gandhi said while addressing a press meet following the central bank's bi-monthly monetary policy review.

RBI asked people not to hoard notes as the there is adequate supply of notes. "Asking people not to hoard new currency. We have  alredy supplied Rs 4 lakh cr in new notes." RBI said. (IANS)