New Delhi: Economic Affairs Secretary Shaktikanta Das said that the remonetisation process that began after scrapping Rs.500 and Rs.1000 notes on Nov 8 is “nearly complete”.
He added that he called it nearly complete because there is still a weekly restriction on withdrawal from savings accounts. This withdrawal limit of Rs.24000 per week will also be removed soon, he said.
He also said that currency supply and management is the RBI’s domain and that, practically, there are no restrictions on money withdrawals because only a few people withdraw Rs. 1 lakh in a month.
