NEW DELHI: Reserve Bank Governor Shaktikanta Das on Monday said the impact of withdrawal of Rs 2,000 currency notes would be “very very marginal” on the economy because it accounts for only 10.8 per cent of currency in circulation.
The RBI chief also cautioned that unlimited deposit of Rs 2,000 notes in bank accounts could attract scrutiny.
“What we have said is the existing procedures have to be followed by banks. We have not come out with an additional procedure… there is an income tax rule that if you deposit cash above Rs 50,000, you have to produce your PAN. So, existing rules will apply,” he said.