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Demonetisation: 'Over Rs 6 lakh crores have been deposited in banks so far'

The government says that the demonetisation move has been a success.  

Updated: Nov 23, 2016, 11:54 AM IST
Demonetisation: 'Over Rs 6 lakh crores have been deposited in banks so far'

New Delhi: The government has told the Supreme Court that over Rs six lakh crore have been deposited in the banks after Rs 500 and Rs 1000 currency notes were demonetised on November 8.

The disclosure was made by Attorney General Mukul Rohtagi in the apex court on Wednesday during a hearing on the demonetisation issue.

The AG added that the government expects to collect Rs 15 lakh crore in total.

On the concerns that the common public is facing difficulties in assessing cash, Rohtagi said that the situation better now and the government expects the situation to get better in coming days.

The government has set up a committee which will assess the ground situation across the country besides taking sufficient measures to benefit farmers, the AG said.

Pointing out that there is a big surge in the digital use of money, the government said that the demonetisation move has been successful.

Responding to the various petitions filed against demonetisation, the Supreme Court issued a notice to the petitioners who had approached various courts across the country.

A bench headed by Chief Justice of India TS Thakur, however, declined to stay the proceedings, for now, as it directed the next hearing of the matter on December 2.

The Centre had approached the apex court seeking transfer of the cases, contending that proceedings in various courts were creating difficulties.