The State Bank Of India’s (SBI) Economic Research Department (ERD) came up with a report about how much time it will take for the cash crunch to end and things return to normalcy. Latest RBI data says that only 44% percent of the Demonetized currency has been replaced so far.
[m9ad]
If RBI goes on to print 500 Notes and smaller currency notes, by this month end, only 67 percent of the currency would be replaced and by the end of next month, as much as 80-89 percent of the total currency may get replaced. In any case, things should be normal by the time you get your March pay cheque.
The government is still clinging on to the 24000 per week withdrawal limits and 4500 per day from ATMs (Up to a max of 24000 per week from banks and ATMs). Things will be considered normal only if the limits are removed and the situation prior to November 8th comes in.
