Addressing Parliament's Finance Standing Committee, RBI governor Urjit Patel informed them that the old currency notes deposited during demonetisation is still being counted 24 into seven by 65 machines, six days a week. He told them that RBI was floating tenders to hire more machines.
Congress leader Digvijay Singh responded by asking whether the RBI would be able to provide the final figure before May 2019, when the Lok Sabha elections will be held. While the RBI hasn't stated how much money has been collected so far, the last official number is somewhere near £150 billion. Patel was also asked about the effects of demonetisation, and Committee chair Veerappa Moily inquired whether the annual RBI report will mention the total old currency deposited with banks and then handed over to the central bank.
The committee also asked whether the RBI would be able to clearly state the apex bank's “profit-loss” after the move. Patel tabled a statement on monetary policy in response, showing GDP had marginally slowed in 2015-17 and was projected to be 7.3 per cent in 2017-18. The governor was not particularly forthcoming in responding to questions on monetary policy, often referring to documents or seeking time to get back with more information.
