{"id":31368,"date":"2018-10-27T13:18:59","date_gmt":"2018-10-27T07:48:59","guid":{"rendered":"https:\/\/blog.forumias.com\/?p=31368"},"modified":"2018-10-27T13:18:59","modified_gmt":"2018-10-27T07:48:59","slug":"15-months-on-rbi-still-processing-returned-notes","status":"publish","type":"post","link":"https:\/\/forumias.com\/blog\/15-months-on-rbi-still-processing-returned-notes\/","title":{"rendered":"15 months on, RBI still processing returned notes"},"content":{"rendered":"<p><a href=\"http:\/\/www.thehindu.com\/todays-paper\/tp-business\/15-months-on-rbi-still-processing-returned-notes\/article22725403.ece\"><b>15 months on, RBI still processing returned notes<\/b><\/a><\/p>\n<p><b>Context:<\/b><\/p>\n<ul>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">After demonetization, the Reserve Bank of India has said that Rs. 500 and Rs. 1,000 notes are still being processed for their arithmetical accuracy and genuineness.<\/span><\/li>\n<\/ul>\n<p><b>Number of demonetised notes:<\/b><\/p>\n<ul>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">The estimated value of specified bank notes received as on June 30, 2017 is Rs. 15.28 trillion (lakh crore).<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">As to finish the counting of demonetised notes specified bank notes are being processed in an expedited manner.<\/span><\/li>\n<\/ul>\n<p><b>New initiatives:<\/b><\/p>\n<ul>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">The RBI will also soon have greater flexibility in terms of managing its liquidity operations with the addition of one more tool <\/span><b>\u2018Standing Deposit Facility Scheme\u2019.<\/b><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">This would provide the RBI a <\/span><b>new tool for liquidity management,<\/b><span style=\"font-weight: 400;\"> particularly in times when the <\/span><b>money market liquidity is in excess to deal with post-demonetisation like scenario.<\/b><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Finance Minister Arun Jaitley, in his Budget, had proposed <\/span><b>to amend the RBI Act<\/b><span style=\"font-weight: 400;\"> to <\/span><b>empower the central bank to come up with an additional instrument for liquidity management.<\/b><\/li>\n<\/ul>\n<p><b>CRR hike:<\/b><\/p>\n<ul>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Post-demonetisation, the RBI <\/span><b>ran out of securities to offer as collateral.<\/b><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">It had to<\/span><b> temporarily hike its cash reserve ratio (CRR)<\/b><span style=\"font-weight: 400;\"> to force banks to park extra deposits with it.<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">The CRR is the<\/span><b> portion of deposits that banks have to compulsorily park with the RBI.<\/b><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Currently, the CRR is pegged at 4%.<\/span><\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>15 months on, RBI still processing returned notes Context: After demonetization, the Reserve Bank of India has said that Rs. 500 and Rs. 1,000 notes are still being processed for their arithmetical accuracy and genuineness. Number of demonetised notes: The estimated value of specified bank notes received as on June 30, 2017 is Rs. 15.28&hellip; <a class=\"more-link\" href=\"https:\/\/forumias.com\/blog\/15-months-on-rbi-still-processing-returned-notes\/\">Continue reading <span class=\"screen-reader-text\">15 months on, RBI still processing returned notes<\/span><\/a><\/p>\n","protected":false},"author":61,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[555],"tags":[],"class_list":["post-31368","post","type-post","status-publish","format-standard","hentry","category-test-1","entry"],"jetpack_featured_media_url":"","views":{"total":0,"cached_at":"","cached_date":1704796097},"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/31368","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/users\/61"}],"replies":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/comments?post=31368"}],"version-history":[{"count":0,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/31368\/revisions"}],"wp:attachment":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/media?parent=31368"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/categories?post=31368"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/tags?post=31368"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}