"Majority of Indians Boost Bank Deposits by Depositing Withdrawn 2000-Rupee Notes"
TL;DR
About 80% of the recently withdrawn 2000-rupee notes in India have been deposited into bank accounts rather than exchanged for smaller denominations, according to six public and private sector bankers. The trend is expected to boost bank deposits, with the State Bank of India receiving INR170bn ($2.06bn) in value terms in the first week since the exercise began on 23 May. Of this, 82% was deposited into accounts, while the rest was exchanged.
- About 80% of Indians choose to deposit withdrawn 2000-rupee notes, boost bank deposits, bankers say Reuters India
- 80% of Indians depositing ₹2,000 notes, not exchanging them: Report Inshorts
- Over one-third of ₹2,000 currency notes returned so far: Report | Mint Mint
- India's currency in circulation falls further post RBI currency withdrawal move Reuters India
- India's currency in circulation falls further post RBI currency withdrawal move Moneycontrol
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