Deposits hit 6-year high as Rs. 2000 notes return

Withdrawal of Rs 2,000 notes by the Reserve Bank of India on May 19 and the subsequent near total return of the currency to the system has buoyed deposit accretion to a six-year high of Rs 191.6 lakh crore in June, according to a report.

Earlier this month, the RBI said more than three-fourths of the total 3.62 lakh crore of Rs 2,000 bank notes have come back to the system by way of deposits (over 85%) and the rest as note exchanges. Deposits rose 13% in the reporting fortnight and sequentially, it expanded by 3.2% to Rs 191.6 lakh crore.