Withdrawal of Rs 2,000 notes by Reserve Bank 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 per cent) and the rest as note exchanges.
Deposits rose 13 per cent in the reporting fortnight and sequentially, it expanded by 3.2 per cent to Rs 191.6 lakh crore and in absolute terms, deposits rose by Rs 22 lakh crore in the trailing 12-month period when it had stood at Rs 185.7 lakh crore.