Currency with the public has amounted to a record high of over Rs 18.5 lakh crore - more than double of Rs 7.8 lakh crore it had right after demonetisation in 2016, data by RBI revealed.&nbsp;

As per reports, the total currency put in circulation by the RBI has also doubled, reaching ti Rs 19.3 lakh crore from Rs 8.9 lakh crore after demonetisation.&nbsp;

This high level of currency available with the public is in contrast to the reported cash crunch in various parts of the country a few months ago.&nbsp;

The figures for both 'currency with the public' and 'currency in circulation' have also exceeded the levels seen before the government's demonetisation decision on November 8, 2016, that saw nearly 86 per cent of the currency in circulation at that time being invalidated overnight by scrapping the then Rs. 500/1,000 banknotes.

The public was given time to deposit the invalidated notes in banks, which saw nearly 99 per cent of banned notes coming back into the system.

As per the RBI's latest disclosure in this regard, people had returned Rs. 15.28 lakh crore as on June 30, 2017, of the Rs. 15.44 lakh crore banned currency, or 98.96 per cent, of the scrapped notes to the banking system.

Since then, the RBI has introduced new denominations of Rs. 2,000 and Rs. 200, among others, besides a new Rs. 500 note. After the recent cash crunch, the government had announced that printing of Rs. 500 notes would be stepped up.

While the RBI is yet to announce its final word on processing and verification of all the returned notes, the latest 'money supply' data from the central bank puts the "currency with the public" at over Rs. 18.5 lakh crore as on May 25, 2018 -- up more than 31 per cent from year-ago level.

This is an over two-fold jump from Rs. 7.8 lakh crore as on December 9, 2016 -- the lowest level it had seen after the announcement of the demonetisation decision as people rushed to deposit the scrapped notes with banks and the RBI.

Prior to demonetisation, the currency with the public stood at about Rs. 17 lakh crore.

The total money supply, described as M3 by the RBI, now stands at over Rs. 140 lakh crore -- nearly 11 per cent higher than the year-ago level. It stood at about Rs. 120 lakh crore during the demonetisation period and was below Rs. 100 lakh crore level before the Modi government came to power.

The M3 includes currency with the public, deposit money of the public (demand deposits with the banking system plus 'other' deposits with the RBI) and the time deposits with the banking system.

This figure is equivalent to the net bank credit to the government, plus the bank credit to the commercial sector, plus net foreign exchange assets of the banking sector, plus government's currency liabilities to the public, minus the net non-monetary liabilities of the banking sector.

The government's currency liabilities to the public comprise rupee coins and small coins.

The total currency put in circulation by the RBI has also doubled, reaching ti Rs 19.3 lakh crore from Rs 8.9 lakh crore after demonetisation.

Currency with the public has amounted to a record high of over Rs 18.5 lakh crore - more than double of Rs 7.8 lakh crore it had right after demonetisation in 2016, data by RBI revealed. As per reports, the total currency put in circulation by the RBI has also doubled, reaching ti Rs 19.3 lakh crore from Rs 8.9 lakh crore after demonetisation. This high level of currency available with the public is in contrast to the reported cash crunch in various parts of the country a few months ago. The figures for both 'currency with the public' and 'currency in circulation' have also exceeded the levels seen before the government's demonetisation decision on November 8, 2016, that saw nearly 86 per cent of the currency in circulation at that time being invalidated overnight by scrapping the then Rs. 500/1,000 banknotes. The public was given time to deposit the invalidated notes in banks, which saw nearly 99 per cent of banned notes coming back into the system. As per the RBI's latest disclosure in this regard, people had returned Rs. 15.28 lakh crore as on June 30, 2017, of the Rs. 15.44 lakh crore banned currency, or 98.96 per cent, of the scrapped notes to the banking system. Since then, the RBI has introduced new denominations of Rs. 2,000 and Rs. 200, among others, besides a new Rs. 500 note. After the recent cash crunch, the government had announced that printing of Rs. 500 notes would be stepped up. While the RBI is yet to announce its final word on processing and verification of all the returned notes, the latest 'money supply' data from the central bank puts the "currency with the public" at over Rs. 18.5 lakh crore as on May 25, 2018 -- up more than 31 per cent from year-ago level. This is an over two-fold jump from Rs. 7.8 lakh crore as on December 9, 2016 -- the lowest level it had seen after the announcement of the demonetisation decision as people rushed to deposit the scrapped notes with banks and the RBI. Prior to demonetisation, the currency with the public stood at about Rs. 17 lakh crore. The total money supply, described as M3 by the RBI, now stands at over Rs. 140 lakh crore -- nearly 11 per cent higher than the year-ago level. It stood at about Rs. 120 lakh crore during the demonetisation period and was below Rs. 100 lakh crore level before the Modi government came to power. The M3 includes currency with the public, deposit money of the public (demand deposits with the banking system plus 'other' deposits with the RBI) and the time deposits with the banking system. This figure is equivalent to the net bank credit to the government, plus the bank credit to the commercial sector, plus net foreign exchange assets of the banking sector, plus government's currency liabilities to the public, minus the net non-monetary liabilities of the banking sector. The government's currency liabilities to the public comprise rupee coins and small coins.

Currency with public reaches record high of Rs 18.5 lakh crore: RBI data

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Currency with public reaches record high of Rs 18.5 lakh crore: RBI data