Attorney General Mukul Rohatgi has told the Supreme Court that around Rs 12 lakh crore in scrapped currency has been deposited in the banking system, which exceeds the government’s estimates for cash to be returned.
New Delhi: Attorney General Mukul Rohatgi has told the Supreme Court that around Rs 12 lakh crore in scrapped currency has been deposited in the banking system, which exceeds the government’s estimates for cash to be returned.
P Chidambaram, who was the counsel for one of the petitioners, told the Supreme Court that only around Rs 4 lakh crore worth of new currency has been printed so far, a month after demonetization, while the total value of extinguished banknotes was worth around Rs 15 lakh crore.
The Supreme Court is hearing petitions and public interest litigations challenging demonetisation.
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