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RBI Defers Release Of Balance Sheet For Week Ended June 30 For First Time
As part of its week on week exercise, the central bank for the first time faltered on its release of balance sheet details for the week ended June 30.
In the history of RBI functioning, never has the apex body, postponed the release of it balance sheet statement for the week ended June 30. It is perhaps the time of the year when RBI closes its accounting year for the weekly circulated statistical supplement.
The move shall make the already much awaited impact of demonetization perhaps more longer. Currently, still the work is in progress to estimate the currency in circulation which is a major item under the liabilities head of the central bank's balance sheet
"The RBI finalises its accounts by July-end and releases it to the government in August."\To complete the counting of currency, has even appointed additional staff.
Also, as a justification in the delay, Urijit Patel said, that the delay is also on the back of the provision that allowed cooperative banks to submit the junked currency to RBI as well as the bilateral deal between Nepal and India, as part of which Nepal would return the banned notes to central banker.
As of now the total currency under circulation which includes bank notes in all currency including denomination of Rs. 10 to Rs. 2000 stands at Rs 15.4 lakh crore and this is as much as 85% of the total currency value on the day when high-value currency notes were banned.
RBI on a week-on-week basis release data per se total money in circulation which is released in its statistical supplement.
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