Friday, 17 February 2017

Remonetisation situation almost normal now: Ripples Financial Advisory

The Indian Government has said that the remonetisation situation with regard to replenishing the scrapped currency is almost normal now and the Reserve Bank is monitoring the supply on a daily basis. Commenting on the issue, Finance Minister Arun Jaitley told the media, "As far as remonetisation is concerned, the situation is almost normal and RBI is monitoring the currency supply position on daily basis." The Government had withdrawn legal tender character of old Rs 500 and Rs 1,000 notes on November 2016 with an aim to check black money, counterfeit notes and terror financing.

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