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Remonetisation or replenishment of new notes is “almost normal” now, claimed Union Finance Minister Arun Jaitley here on Thursday.
According to him, the RBI is monitoring the supply on a daily basis.
“As far as remonetisation is concerned, the situation is almost normal and the RBI is monitoring the currency supply position on a daily basis,” he said while speaking to mediapersons on the sidelines of the summit.
The government had demonetised old ₹500 and ₹1,000 currency notes in November and has since been pushing and incentivising digital payments.
Jaitley said a cash economy has many vices as it leads to crime and tax evasion. Hence, there was a need to change the way trade and commerce is undertaken in the country.
When asked about the amount of scrapped currency received by banks post demonetisation, the Finance Minister said RBI Governor Urjit Patel had recently informed that the central bank would disclose the figure only after the process of currency verification is complete.
“Whatever time is required, the RBI will take that much time. I would not like to say anything beyond that,” he added.
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