New Delhi, Nov 22: The amount of new currency released by RBI to replace the old demonetised notes presently stands at a total of Rs 1.36 lakhs crores. This amount though is still to catch up with the huge amount of 14 lakh crore presently in the form of demonetise notes. The pace is picking up to replenish currency flow in the economy but will take another month before it can close in on the huge gap.

The banks have received junked notes worth Rs 5,44,571 crore in deposits between November 10 and November 18. At the same time the banks too have pumped up Rs 1,03,316 croreinto the system through withdrawals by account holders and another Rs 33, 000 crore by exchanging ild notes for new. These withdrawals include the ones made through ATMS as well. 

According to SBI economists, one way of looking at the situation is to look at the cash requirement in the economy by using the yardstick of two months consumption needs. “If this were to be taken as a measure around Rs 10 lakh crore of new currency would need to be printed in the com ing two months time. 

While the move will prove to be profitable in the coming year the immediate impact might be slightly negative since the affects will be seen in the manufacture sector creating a dent in the economic growth in the coming two quarters. But the positive impact thereafter will offset the decrease and will further increase economy post the short term impact.