18.5 lakh crores in peoples hand
Now the cash level at the peak of the public has reached a maximum of two and now it is more than double that money in the hands of people after the annulment of the bank in 2016, the RBI said. From the midnight of November 8, 2016, the old Rs .1,000, old Rs. 500 notes were withdrawn from the government circulation. As of December 9, 2016, the bank had a net worth of Rs. 7.8 lakh crore, while the bank had a net worth of Rs 18.5 lakh crore as on May 25 this year.
It is now more than twice as much cash compared to the postnotes. As on January 6, 2017, Rs. 8.9 lakh crores in circulation, as on 1st of this month it was Rs. 19.3 lakh crore. The money in the public and the money at the banks are treated as cash in circulation. Even though the cash shortfall in many states two or three months ago, the RBI statistics are contrary. Many believe that some people have created artificial shortage of money to withdraw from a large amount of money for various reasons and hide them from circulation.