Remonetisation 'Nearly Complete' Says Economic Affairs Secretary - Shaktikanta Das

The process of remonetisation that began from 8th Novemeber 2016 is almost complete as there are no withdrawals and no restriction says Shaktikanta Das. 

Economic Affair Secretary Shaktikanta Das said in an interview - All restrictions have been removed except on savings bank account of Rs 24,000 per week. This (removal of withdrawal limit) is also a matter of time.

Only a few withdraw Rs 1 lakh a month. Therefore, effectively and practically today, there is no restriction. I think the process of remonetisation is near-complete. I am using the word near-complete because this Rs 24,000 limit is there,".

RBI’s responsibilities and the other management will further look in the near future on freeing the remaining restriction of rs 24000 from savings bank account.

By the time of note ban, under 90 days, the process of remonetisation is almost complete.

In less than 90 days, the whole process of remonetisation is almost complete. This speaks volumes about the way the remonetisation has been completed,".

In the beginning of this week RBI free the restrictions on withdrawal of cash from ATM’s and current account.


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